Coupang, Inc. $CPNG Shares Acquired by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management Inc. significantly increased its holdings in Coupang, Inc. by 185.4% during the second quarter, acquiring a total of 178,638 shares valued at approximately $5.35 million.
• Coupang reported a revenue of $8.52 billion for the most recent quarter, exceeding analyst expectations, but missed earnings per share estimates with a report of $0.02 per share.
• Institutional investors now own 83.72% of Coupang's stock, reflecting a strong interest from hedge funds and investment firms in the company.

Ramirez Asset Management Inc. lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 185.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 178,638 shares of the company's stock after acquiring an additional 116,046 shares during the period. Ramirez Asset Management Inc.'s holdings in Coupang were worth $5,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Albion Financial Group UT acquired a new stake in shares of Coupang during the 2nd quarter worth about $30,000. SVB Wealth LLC acquired a new stake in shares of Coupang during the 1st quarter worth about $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Coupang during the 1st quarter worth about $30,000. Grove Bank & Trust acquired a new stake in shares of Coupang during the 1st quarter worth about $33,000. Finally, Brooklyn Investment Group grew its stake in Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after buying an additional 506 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Coupang Trading Up 1.0%

Shares of CPNG stock opened at $32.48 on Friday. The business's 50 day moving average is $30.44 and its two-hundred day moving average is $27.88. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $34.08. The company has a market capitalization of $59.22 billion, a P/E ratio of 162.42 and a beta of 1.18. 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 announced its earnings results 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). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company had revenue of $8.52 billion during the quarter, compared to analysts' expectations of $8.34 billion. During the same quarter last year, the business posted $0.07 earnings per share. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. Equities analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Transactions at Coupang

In related news, Director Pedro Franceschi sold 21,428 shares of Coupang 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 filing with the SEC, which is available through the SEC website. Also, CFO Gaurav Anand sold 75,350 shares of Coupang stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the sale, the chief financial officer owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. This trade represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 988,983 shares of company stock valued at $31,203,966. 12.78% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Arete Research assumed coverage on Coupang in a research note on Thursday, September 18th. They set a "buy" rating and a $40.00 price target on the stock. Nomura Securities upgraded Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Arete assumed coverage on Coupang in a research note on Thursday, September 18th. They set a "buy" rating and a $40.00 price target on the stock. Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Morgan Stanley raised their price target on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.50.

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.

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