Great Lakes Advisors LLC Takes Position in Coupang, Inc. $CPNG

Key Points

• Great Lakes Advisors LLC purchased 30,507 shares of Coupang, Inc. for approximately $669,000 in the 1st quarter.
• Insider transactions included Director Benjamin Sun selling 815,797 shares at an average price of $31.88, while VP Pranam Kolari sold 11,653 shares at an average price of $29.14.
• Analysts have mixed ratings on Coupang, with upgrades from Nomura and Morgan Stanley, while Deutsche Bank and Wall Street Zen downgraded the stock to "hold."

Great Lakes Advisors LLC purchased a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 30,507 shares of the company's stock, valued at approximately $669,000.

Several other hedge funds have also recently added to or reduced their stakes in CPNG. Comerica Bank boosted its stake in Coupang by 4.1% during the 4th quarter. Comerica Bank now owns 16,546 shares of the company's stock worth $364,000 after purchasing an additional 652 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Coupang by 2.2% in the fourth quarter. Cetera Investment Advisers now owns 77,458 shares of the company's stock worth $1,703,000 after buying an additional 1,666 shares in the last quarter. Deutsche Bank AG boosted its position in Coupang by 25.7% during the fourth quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock worth $1,997,000 after acquiring an additional 18,593 shares during the last quarter. Janus Henderson Group PLC boosted its position in Coupang by 13.8% during the fourth quarter. Janus Henderson Group PLC now owns 39,359 shares of the company's stock worth $865,000 after acquiring an additional 4,761 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Coupang by 5.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,696 shares of the company's stock valued at $741,000 after acquiring an additional 1,590 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a research report on Wednesday, August 6th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a report on Wednesday, August 6th. Finally, Morgan Stanley boosted their price target on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.14.

Insider Buying and Selling at Coupang

In other news, Director Benjamin Sun sold 815,797 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total value of $26,007,608.36. Following the sale, the director directly owned 503,624 shares of the company's stock, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the vice president owned 158,676 shares in the company, valued at approximately $4,623,818.64. This represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 902,800 shares of company stock worth $28,441,153 over the last three months. Insiders own 12.78% of the company's stock.

Coupang Price Performance

NYSE:CPNG opened at $32.45 on Friday. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $32.89. The stock's fifty day moving average is $29.58 and its two-hundred day moving average is $26.59. The company has a market capitalization of $59.16 billion, a P/E ratio of 162.26 and a beta of 1.15. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates 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 business's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. Equities analysts expect that Coupang, Inc. will post 0.17 EPS for the current 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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