Cresset Asset Management LLC Purchases 9,589 Shares of Coupang, Inc. $CPNG

Key Points

• Cresset Asset Management LLC increased its holdings in Coupang, Inc. by 60.5%, acquiring an additional 9,589 shares, bringing its total to 25,439 shares valued at approximately $558,000.
• Coupang’s stock traded up 1.9% recently, with a current market capitalization of $52.41 billion and a PE ratio of 143.74.
• In the 2nd quarter, Coupang reported $0.02 earnings per share, missing expectations, but its revenue of $8.52 billion surpassed forecasts.

Cresset Asset Management LLC lifted its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 60.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,439 shares of the company's stock after acquiring an additional 9,589 shares during the period. Cresset Asset Management LLC's holdings in Coupang were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Thoroughbred Financial Services LLC increased its position in shares of Coupang by 1.4% during the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company's stock valued at $646,000 after acquiring an additional 408 shares in the last quarter. California State Teachers Retirement System grew its position in Coupang by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 85,489 shares of the company's stock worth $1,879,000 after purchasing an additional 445 shares during the period. Virtus ETF Advisers LLC grew its position in Coupang by 1.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company's stock worth $975,000 after purchasing an additional 466 shares during the period. Resonant Capital Advisors LLC grew its position in Coupang by 4.2% in the 1st quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company's stock worth $258,000 after purchasing an additional 476 shares during the period. Finally, Klingman & Associates LLC grew its position in Coupang by 1.1% in the 1st quarter. Klingman & Associates LLC now owns 48,235 shares of the company's stock worth $1,058,000 after purchasing an additional 523 shares during the period. Institutional investors own 83.72% of the company's stock.

Coupang Trading Up 1.9%

Shares of Coupang stock opened at $28.7470 on Friday. The company's fifty day simple moving average is $29.48 and its 200-day simple moving average is $26.12. The stock has a market capitalization of $52.41 billion, a PE ratio of 143.74 and a beta of 1.16. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $31.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly 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). The business had revenue of $8.52 billion for 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 company's revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. As a group, equities analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction on Monday, August 4th. The shares were sold at an average price of $29.14, for a total transaction of $339,568.42. Following the transaction, the vice president owned 158,676 shares in the company, valued at $4,623,818.64. This trade represents a 6.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gaurav Anand sold 175,000 shares of Coupang stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the transaction, the chief financial officer owned 2,092,290 shares in the company, valued at $58,814,271.90. This represents a 7.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,462,003 shares of company stock worth $295,524,795. 12.78% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CPNG shares. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Barclays lifted their target price on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a research report on Wednesday, August 6th. Finally, Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.13.

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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