Dakota Wealth Management Has $2.09 Million Holdings in Coupang, Inc. $CPNG

Key Points

• Dakota Wealth Management increased its stake in Coupang by 244.6% in the second quarter, holding $2.09 million worth of shares after acquiring an additional 49,575 shares.
• Wall Street analysts have mixed ratings for Coupang, with Nomura upgrading it to a "strong buy" and setting a price target of $35.00, while Deutsche Bank downgraded it to a "hold" with a price objective of $27.00.
• Coupang's recent earnings report showed a revenue increase of 16.4% year-over-year, despite missing analyst estimates with an EPS of $0.02.

Dakota Wealth Management grew its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 244.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,840 shares of the company's stock after acquiring an additional 49,575 shares during the period. Dakota Wealth Management's holdings in Coupang were worth $2,092,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SVB Wealth LLC acquired a new stake in Coupang during the first quarter worth approximately $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Coupang in the first quarter valued at approximately $30,000. Grove Bank & Trust bought a new stake in shares of Coupang in the first quarter valued at approximately $33,000. Brooklyn Investment Group boosted its stake in shares of Coupang by 43.1% in the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock valued at $37,000 after buying an additional 506 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Coupang by 600.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock valued at $55,000 after buying an additional 2,149 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts 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 research note on Wednesday, August 6th. Morgan Stanley boosted their price target on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $33.11.

Insider Activity at Coupang

In related news, CFO Gaurav Anand sold 75,350 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the sale, the chief financial officer owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. This trade represents a 3.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Pedro Franceschi sold 21,428 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale can be found here. Insiders have sold a total of 988,983 shares of company stock worth $31,203,966 over the last 90 days. 12.78% of the stock is currently owned by company insiders.

Coupang Stock Up 1.2%

Shares of CPNG opened at $32.23 on Friday. The firm has a 50 day simple moving average of $30.04 and a two-hundred day simple moving average of $27.30. The company has a market cap of $58.76 billion, a P/E ratio of 161.17 and a beta of 1.15. 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, Inc. has a one year low of $19.02 and a one year high of $34.08.

Coupang (NYSE:CPNG - Get Free Report) last announced 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 net margin of 1.13% and a return on equity of 7.47%. The firm had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. The firm's revenue was up 16.4% on a year-over-year basis. Research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

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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