Focus Partners Wealth Takes Position in Coupang, Inc. $CPNG

Key Points

• Focus Partners Wealth has invested approximately $1.86 million in Coupang, acquiring 84,600 shares in the 1st quarter, contributing to an institutional ownership of 83.72% of the company's stock.
• Analysts have recently upgraded Coupang's stock rating, with Nomura raising its position from "neutral" to a "buy" rating, setting a target price of $35.00.
• Coupang reported earnings of $0.02 per share, missing analyst estimates, despite a 16.4% year-over-year revenue increase to $8.52 billion.

Focus Partners Wealth acquired a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 84,600 shares of the company's stock, valued at approximately $1,855,000.

Several other institutional investors also recently modified their holdings of CPNG. SVB Wealth LLC purchased a new stake in Coupang during the 1st quarter valued at about $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Coupang in the 1st quarter valued at about $30,000. Grove Bank & Trust purchased a new stake in shares of Coupang during the 1st quarter worth approximately $33,000. Brooklyn Investment Group lifted its stake in shares of 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 purchasing an additional 506 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Coupang by 600.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock worth $55,000 after buying an additional 2,149 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Performance

CPNG traded down $0.47 on Friday, hitting $32.95. 111,558,696 shares of the stock traded hands, compared to its average volume of 12,638,589. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. The firm has a market capitalization of $60.07 billion, a PE ratio of 164.76 and a beta of 1.15. The business has a fifty day moving average price of $29.94 and a two-hundred day moving average price of $26.97. 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 released its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (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 company had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. During the same period in the prior year, the firm posted $0.07 EPS. Coupang's revenue was up 16.4% compared to the same quarter last year. On average, research analysts predict that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity

In other news, Director Pedro Franceschi sold 21,428 shares of the company'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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the vice president directly owned 158,676 shares of the company's stock, valued at $4,623,818.64. The trade was a 6.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 988,983 shares of company stock worth $31,203,966. Company insiders own 12.78% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on CPNG shares. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Arete initiated coverage on shares of Coupang in a report on Thursday. They set a "buy" rating and a $40.00 price target on the stock. Morgan Stanley upped their target price on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target on the stock. in a research report on Wednesday, August 6th. Finally, Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.11.

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.