Southland Equity Partners LLC Buys New Stake in Coupang, Inc. $CPNG

Key Points

• Southland Equity Partners LLC acquired 7,595 shares of Coupang, Inc. valued at approximately $228,000 in the second quarter, reflecting increased institutional interest in the company.
• Coupang's stock is currently priced at $32.95, showing a 1.4% drop, with analysts predicting earnings per share to reach 0.17 for the current year.
• Multiple research firms have updated their ratings on Coupang, with Arete Research initiating coverage with a "buy" rating and a target price of $40.00.

Southland Equity Partners LLC purchased a new position in Coupang, Inc. (NYSE:CPNG - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,595 shares of the company's stock, valued at approximately $228,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Inspirion Wealth Advisors LLC raised its stake in shares of Coupang by 0.3% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company's stock worth $4,024,000 after buying an additional 400 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in shares of Coupang by 1.4% in the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company's stock worth $646,000 after acquiring an additional 408 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Coupang by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 85,489 shares of the company's stock valued at $1,879,000 after purchasing an additional 445 shares during the last quarter. Baader Bank Aktiengesellschaft raised its stake in Coupang by 4.3% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company's stock worth $323,000 after buying an additional 461 shares during the period. Finally, Resonant Capital Advisors LLC grew its holdings in shares of Coupang by 4.2% in the first quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company's stock valued at $258,000 after acquiring an additional 476 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 11,653 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $29.14, for a total transaction of $339,568.42. Following the sale, the vice president directly owned 158,676 shares of the company's stock, valued at $4,623,818.64. The trade was a 6.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Pedro Franceschi sold 21,428 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 988,983 shares of company stock worth $31,203,966. Corporate insiders own 12.78% of the company's stock.

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of analyst reports. Nomura Securities raised Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a report on Wednesday, August 6th. Morgan Stanley boosted their target price on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Arete Research began coverage on shares of Coupang in a research note on Thursday. They set a "buy" rating and a $40.00 target price for the company. Finally, Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Coupang has an average rating of "Moderate Buy" and an average price target of $33.11.

Coupang Price Performance

Shares of CPNG traded down $0.57 during mid-day trading on Monday, reaching $32.29. The company had a trading volume of 9,378,987 shares, compared to its average volume of 17,725,668. The company has a market capitalization of $58.87 billion, a price-to-earnings ratio of 161.46 and a beta of 1.15. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The company's 50 day simple moving average is $29.98 and its 200 day simple moving average is $27.09.

Coupang (NYSE:CPNG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $8.52 billion during the quarter, compared to analysts' expectations of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The firm's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 EPS. Analysts expect that Coupang, Inc. will post 0.17 EPS for the current year.

Coupang Company 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.