Bayforest Capital Ltd Makes New Investment in Coupang, Inc. $CPNG

Key Points

• Bayforest Capital Ltd has acquired 8,251 shares of Coupang, Inc. valued at approximately $181,000, indicating growing interest from institutional investors.
• Insider trading activity has been notable, with VP Pranam Kolari selling 11,653 shares and Director Benjamin Sun offloading a significant 815,797 shares.
• Despite missing EPS estimates in its recent quarter, Coupang's revenue rose 16.4% year-over-year, highlighting strong business growth as analysts maintain a "Moderate Buy" consensus rating on the stock.

Bayforest Capital Ltd bought a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,251 shares of the company's stock, valued at approximately $181,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SVB Wealth LLC bought a new position in Coupang in the 1st quarter worth about $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Coupang during the first quarter worth approximately $30,000. Grove Bank & Trust purchased a new position in shares of Coupang during the first quarter worth approximately $33,000. Brooklyn Investment Group increased its position in shares of Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after acquiring an additional 506 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Coupang by 600.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock worth $55,000 after acquiring an additional 2,149 shares during the period. Institutional investors own 83.72% of the company's stock.

Coupang Stock Performance

CPNG traded down $0.24 during midday trading on Tuesday, hitting $33.27. 7,143,198 shares of the company were exchanged, compared to its average volume of 9,840,480. The company's 50 day simple moving average is $29.69 and its 200 day simple moving average is $26.75. The firm has a market capitalization of $60.64 billion, a price-to-earnings ratio of 166.55 and a beta of 1.15. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $33.71.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The business had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. Coupang's revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. As a group, sell-side analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Pedro Franceschi sold 21,428 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Sun sold 815,797 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total value of $26,007,608.36. Following the transaction, the director directly owned 503,624 shares in the company, valued at $16,055,533.12. This trade represents a 61.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 988,983 shares of company stock valued at $31,203,966. Insiders own 12.78% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Coupang presently has an average rating of "Moderate Buy" and a consensus price target of $31.14.

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.