Janney Capital Management LLC Grows Stock Position in Coupang, Inc. $CPNG

Key Points

• Janney Capital Management LLC increased its stake in Coupang, Inc. by 29.5% during the second quarter, bringing their total shares to 335,927.
• Insider selling has been significant, with Director Benjamin Sun selling over 815,000 shares, leading to a 61.83% decrease in their ownership.
• Analysts hold a mixed outlook on Coupang, with ratings ranging from a "strong-buy" to a "hold", and an average price target of $33.11.

Janney Capital Management LLC grew its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 29.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 335,927 shares of the company's stock after acquiring an additional 76,546 shares during the quarter. Janney Capital Management LLC's holdings in Coupang were worth $10,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Albion Financial Group UT purchased a new position in shares of Coupang in the second quarter valued at approximately $30,000. SVB Wealth LLC purchased a new position in shares of Coupang in the first quarter valued at approximately $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Coupang in the first quarter valued at approximately $30,000. Grove Bank & Trust purchased a new position in shares of Coupang in the first quarter valued at approximately $33,000. Finally, Brooklyn Investment Group lifted its position 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 acquiring an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Activity at Coupang

In other news, Director Pedro Franceschi sold 21,428 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total transaction of $686,767.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Sun sold 815,797 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was 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 of the company's stock, valued at approximately $16,055,533.12. This represents a 61.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 988,983 shares of company stock valued at $31,203,966 over the last 90 days. Corporate insiders own 12.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CPNG. Nomura Securities upgraded Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Arete assumed coverage on Coupang in a report on Thursday, September 18th. They issued a "buy" rating and a $40.00 price target for the company. Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a report on Wednesday, August 6th. Morgan Stanley increased their price target on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, Arete Research assumed coverage on Coupang in a report on Thursday, September 18th. They issued a "buy" rating and a $40.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.11.

Coupang Price Performance

CPNG stock opened at $32.84 on Tuesday. The business has a fifty day moving average of $30.07 and a two-hundred day moving average of $27.44. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18. The stock has a market cap of $59.87 billion, a price-to-earnings ratio of 164.22 and a beta of 1.15. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $34.08.

Coupang (NYSE:CPNG - Get Free Report) last posted 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 business had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.Coupang's revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS. As a group, research analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

Coupang Company 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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