Coupang, Inc. $CPNG Shares Sold by Catalyst Private Wealth LLC

Key Points

• Catalyst Private Wealth LLC has decreased its stock holdings in Coupang, Inc. by 37.2%, selling 7,790 shares to hold a total of 13,167 shares valued at approximately $394,000.
• Several other hedge funds have increased their stakes in Coupang, with Deutsche Bank AG raising its position by 25.7% and Cetera Investment Advisers increasing its stake by 2.2% in the fourth quarter.
• Coupang's stock has received mixed ratings from analysts, with price targets ranging from $27.00 to $35.00, indicating a generally positive outlook despite recent downgrades.

Catalyst Private Wealth LLC cut its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 37.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,167 shares of the company's stock after selling 7,790 shares during the quarter. Catalyst Private Wealth LLC's holdings in Coupang were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Davidson Kahn Capital Management LLC boosted its stake in shares of Coupang by 31.6% in the first quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock valued at $2,271,000 after purchasing an additional 24,877 shares during the period. Altimeter Capital Management LP boosted its stake in Coupang by 24.3% during the 1st quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company's stock valued at $163,191,000 after acquiring an additional 1,455,555 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Coupang by 40.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock valued at $6,776,000 after acquiring an additional 87,412 shares during the last quarter. Vontobel Holding Ltd. bought a new position in Coupang during the 1st quarter valued at $241,000. Finally, Deutsche Bank AG boosted its stake in Coupang by 25.7% during the 4th quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock valued at $1,997,000 after acquiring an additional 18,593 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Coupang news, CFO Gaurav Anand sold 75,350 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the transaction, the chief financial officer owned 2,016,940 shares of the company's stock, valued at approximately $56,050,762.60. This trade represents a 3.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pedro Franceschi sold 21,428 shares of the firm's stock in a transaction dated 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. Insiders have sold 988,983 shares of company stock worth $31,203,966 in the last 90 days. 12.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $33.11.

Coupang Stock Performance

NYSE:CPNG traded down $0.47 during mid-day trading on Friday, hitting $32.95. The stock had a trading volume of 111,558,696 shares, compared to its average volume of 10,464,758. The stock has a market capitalization of $60.07 billion, a price-to-earnings ratio of 164.76 and a beta of 1.15. The company has a 50 day simple moving average of $29.89 and a 200-day simple moving average of $26.91. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. 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 (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 earnings per share 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 the consensus estimate of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 earnings per share. On average, research analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal 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.