Jessup Wealth Management Inc Purchases Shares of 22,050 Coupang, Inc. (NYSE:CPNG)

Jessup Wealth Management Inc acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 22,050 shares of the company’s stock, valued at approximately $541,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its holdings in shares of Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock valued at $3,589,783,000 after purchasing an additional 2,749,027 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Coupang by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock worth $1,403,015,000 after acquiring an additional 18,894,909 shares in the last quarter. Foxhaven Asset Management LP grew its stake in shares of Coupang by 8.0% in the 4th quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock worth $198,690,000 after acquiring an additional 904,065 shares in the last quarter. Kontiki Capital Management HK Ltd. raised its holdings in shares of Coupang by 1.9% in the first quarter. Kontiki Capital Management HK Ltd. now owns 8,693,468 shares of the company’s stock valued at $154,657,000 after purchasing an additional 159,900 shares during the last quarter. Finally, Bamco Inc. NY lifted its position in shares of Coupang by 9.6% during the first quarter. Bamco Inc. NY now owns 7,942,062 shares of the company’s stock valued at $141,289,000 after purchasing an additional 693,898 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Insider Activity

In other Coupang news, Director Greenoaks Capital Partners Llc acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average price of $22.95 per share, for a total transaction of $2,295,000.00. Following the completion of the transaction, the director now owns 50,476,224 shares of the company’s stock, valued at approximately $1,158,429,340.80. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Greenoaks Capital Partners Llc bought 100,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $22.95 per share, for a total transaction of $2,295,000.00. Following the completion of the transaction, the director now directly owns 50,476,224 shares in the company, valued at $1,158,429,340.80. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin Sun sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the completion of the transaction, the director now directly owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders bought 601,300 shares of company stock worth $13,604,354 and sold 411,388 shares worth $9,452,761. Company insiders own 13.60% of the company’s stock.

Coupang Price Performance

NYSE CPNG traded up $0.08 during trading hours on Friday, hitting $25.61. The company had a trading volume of 1,015,070 shares, compared to its average volume of 9,909,681. The firm has a 50 day simple moving average of $23.33 and a 200 day simple moving average of $21.96. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.28. The firm has a market capitalization of $45.94 billion, a price-to-earnings ratio of 44.02, a PEG ratio of 282.07 and a beta of 1.11. 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 (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. Coupang’s revenue was up 25.4% compared to the same quarter last year. During the same period last year, the business earned $0.08 earnings per share. Equities research analysts expect that Coupang, Inc. will post 0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CPNG shares. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Monday. Morgan Stanley lifted their price target on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Finally, CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and upped their price objective for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.56.

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.