Parsons Capital Management Inc. RI Purchases 1,606 Shares of Coupang, Inc. (NYSE:CPNG)

Parsons Capital Management Inc. RI lifted its position in shares of Coupang, Inc. (NYSE:CPNG) by 1.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 149,744 shares of the company’s stock after acquiring an additional 1,606 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Coupang were worth $3,291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Coupang by 4.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after purchasing an additional 452 shares in the last quarter. Ignite Planners LLC lifted its holdings in Coupang by 2.5% during the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after purchasing an additional 483 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares in the last quarter. Covestor Ltd lifted its holdings in Coupang by 10.4% during the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock worth $159,000 after purchasing an additional 612 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Coupang by 2.2% during the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock worth $850,000 after purchasing an additional 747 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

CPNG opened at $22.36 on Monday. The stock’s 50 day simple moving average is $23.19 and its 200 day simple moving average is $23.34. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The firm has a market cap of $40.22 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 38.88 and a beta of 1.10.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter in the previous year, the company earned $0.05 earnings per share. Coupang’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, analysts predict that Coupang, Inc. will post 0.14 earnings per share for the current year.

Insider Activity at Coupang

In other news, Director Greenoaks Capital Partners Llc bought 750,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the completion of the purchase, the director now owns 52,038,723 shares in the company, valued at approximately $1,249,449,739.23. This represents a 1.46 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at approximately $45,940,000. This represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup dropped their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

About Coupang

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.