Institute for Wealth Management LLC. Takes Position in Coupang, Inc. $CPNG

Key Points

• The Institute for Wealth Management LLC acquired 8,159 shares of Coupang, Inc., valued at approximately $244,000, in Q2 2023, signaling growing institutional interest in the company.
• Coupang has received a mix of analyst ratings with reports indicating a "strong-buy" rating from Nomura and a price objective increase from Morgan Stanley to $35.00, alongside some downgrades from other firms.
• Insider selling was notable, with Director Benjamin Sun selling 815,797 shares in September, resulting in a 61.83% reduction of his ownership, highlighting significant insider transactions amidst a stock price around $32.56.

Institute for Wealth Management LLC. bought a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,159 shares of the company's stock, valued at approximately $244,000.

Other large investors have also recently modified their holdings of the company. Albion Financial Group UT bought a new stake in shares of Coupang during the 2nd quarter valued at about $30,000. SVB Wealth LLC bought a new stake in shares of Coupang during the 1st quarter valued at about $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Coupang during the 1st quarter valued at about $30,000. Grove Bank & Trust bought a new stake in shares of Coupang during the 1st quarter valued at about $33,000. Finally, Brooklyn Investment Group boosted 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 valued at $37,000 after purchasing an additional 506 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CPNG. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Morgan Stanley boosted their price objective 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 lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a research note on Wednesday, August 6th. Finally, Arete started coverage on shares of Coupang in a research note on Thursday, September 18th. They set a "buy" rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Coupang currently has an average rating of "Moderate Buy" and an average price target of $33.11.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 815,797 shares of the company'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 transaction, the director owned 503,624 shares in the company, valued at approximately $16,055,533.12. This represents a 61.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Harold Rogers sold 64,755 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the completion of the transaction, the insider owned 449,569 shares in the company, valued at approximately $14,413,182.14. This represents a 12.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 988,983 shares of company stock valued at $31,203,966. 12.78% of the stock is currently owned by insiders.

Coupang Trading Up 0.4%

Shares of NYSE CPNG opened at $32.56 on Friday. The firm's 50 day moving average price is $30.19 and its 200-day moving average price is $27.57. The company has a market cap of $59.36 billion, a PE ratio of 162.80 and a beta of 1.18. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $34.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09.

Coupang (NYSE:CPNG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The company's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 EPS. On average, equities research analysts expect 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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