Barings LLC Purchases New Position in Coupang, Inc. (NYSE:CPNG)

Barings LLC acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) during the second quarter, HoldingsChannel reports. The firm acquired 42,396 shares of the company’s stock, valued at approximately $888,000.

Several other hedge funds also recently made changes to their positions in CPNG. Global Retirement Partners LLC lifted its stake in Coupang by 135.8% in the 1st quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock valued at $26,000 after purchasing an additional 827 shares during the last quarter. GAMMA Investing LLC raised its stake in Coupang by 308.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after acquiring an additional 1,470 shares during the period. Register Financial Advisors LLC acquired a new position in shares of Coupang in the first quarter valued at $50,000. Opal Wealth Advisors LLC bought a new position in shares of Coupang in the second quarter valued at about $74,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Coupang in the second quarter valued at about $89,000. 83.72% of the stock is owned by institutional investors.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 700,000 shares of Coupang stock in a transaction on Monday, June 17th. The shares were sold at an average price of $20.63, for a total value of $14,441,000.00. Following the completion of the sale, the director now owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the transaction, the insider now owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Sun sold 700,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the completion of the transaction, the director now directly owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 601,300 shares of company stock worth $13,604,354 and have sold 1,110,432 shares worth $23,870,597. Corporate insiders own 13.60% of the company’s stock.

Coupang Trading Up 1.8 %

Shares of CPNG opened at $23.41 on Thursday. The business’s fifty day moving average is $21.71 and its 200-day moving average is $21.07. The firm has a market cap of $41.86 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 161.35 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $23.99.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.39 billion. During the same period in the prior year, the company earned $0.08 EPS. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities analysts anticipate that Coupang, Inc. will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CPNG shares. UBS Group raised Coupang from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.50 to $26.00 in a report on Thursday, May 16th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. Finally, Morgan Stanley increased their target price on shares of Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

Coupang Profile

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.