Coupang, Inc. $CPNG Position Boosted by HighTower Advisors LLC

Key Points

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HighTower Advisors LLC raised its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 26.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,863 shares of the company's stock after acquiring an additional 59,699 shares during the quarter. HighTower Advisors LLC's holdings in Coupang were worth $6,291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CPNG. Cerity Partners LLC lifted its holdings in shares of Coupang by 7.7% during the 4th quarter. Cerity Partners LLC now owns 21,507 shares of the company's stock valued at $512,000 after buying an additional 1,538 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in shares of Coupang during the 4th quarter valued at about $439,000. Jump Financial LLC acquired a new stake in shares of Coupang during the 4th quarter valued at about $773,000. First Trust Advisors LP lifted its holdings in shares of Coupang by 51.8% during the 4th quarter. First Trust Advisors LP now owns 1,759,451 shares of the company's stock valued at $38,673,000 after buying an additional 600,353 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Coupang by 97.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,249,233 shares of the company's stock valued at $49,440,000 after buying an additional 1,107,659 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 11,653 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $29.14, for a total transaction of $339,568.42. Following the completion of the transaction, the vice president directly owned 158,676 shares in the company, valued at $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $28.25, for a total value of $282,500,000.00. Following the transaction, the insider owned 309,542,259 shares of the company's stock, valued at approximately $8,744,568,816.75. This trade represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,462,003 shares of company stock valued at $295,524,795 in the last three months. 12.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target for the company in a report on Wednesday, August 6th. Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Barclays lifted their price target on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Nomura Securities upgraded Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lowered Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a report on Wednesday, August 6th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $30.57.

Coupang Stock Up 3.1%

CPNG opened at $29.00 on Tuesday. The business has a 50 day moving average price of $29.44 and a 200 day moving average price of $26.00. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $31.65. 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 firm has a market cap of $52.87 billion, a P/E ratio of 145.01 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly 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). Coupang had a return on equity of 7.47% and a net margin of 1.13%. The business had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. During the same quarter last year, the firm earned $0.07 earnings per share. The firm's quarterly revenue was up 16.4% compared to the same quarter last year. Research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

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.

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