KG&L Capital Management LLC Takes $392,000 Position in Coupang, Inc. $CPNG

Key Points

• KG&L Capital Management LLC invested approximately $392,000 in Coupang, acquiring 13,100 shares during the second quarter of 2023.
• Insider transactions revealed significant sales, including Harold Rogers selling over 64,000 shares and Benjamin Sun selling around 815,000 shares, indicating a 12.59% and 61.83% decrease in their respective holdings.
• Coupang's recent earnings report showed them earning $0.02 per share, missing estimates, but achieving revenues of $8.52 billion, up 16.4% year-over-year.

KG&L Capital Management LLC bought a new position in Coupang, Inc. (NYSE:CPNG - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 13,100 shares of the company's stock, valued at approximately $392,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Inspirion Wealth Advisors LLC raised its stake in shares of Coupang by 0.3% in the second quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company's stock worth $4,024,000 after buying an additional 400 shares during the period. Thoroughbred Financial Services LLC increased its holdings in Coupang by 1.4% in the 1st quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company's stock worth $646,000 after acquiring an additional 408 shares in the last quarter. California State Teachers Retirement System increased its holdings in Coupang by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 85,489 shares of the company's stock worth $1,879,000 after acquiring an additional 445 shares in the last quarter. Baader Bank Aktiengesellschaft raised its stake in Coupang by 4.3% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company's stock worth $323,000 after acquiring an additional 461 shares during the period. Finally, Resonant Capital Advisors LLC lifted its holdings in Coupang by 4.2% during the first quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company's stock valued at $258,000 after purchasing an additional 476 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Trading Up 1.2%

Shares of CPNG stock opened at $32.23 on Monday. The stock's 50-day moving average price is $30.04 and its 200-day moving average price is $27.37. Coupang, Inc. has a 12-month low of $19.02 and a 12-month high of $34.08. The stock has a market capitalization of $58.76 billion, a price-to-earnings ratio of 161.17 and a beta of 1.15. 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 quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $8.52 billion for the quarter, compared to analysts' expectations of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. Equities research analysts predict that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Harold Rogers sold 64,755 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.06, for a total value of $2,076,045.30. Following the sale, the insider directly owned 449,569 shares in the company, valued at $14,413,182.14. The trade was a 12.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Benjamin Sun sold 815,797 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the sale, the director owned 503,624 shares in the company, valued at $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 a total of 988,983 shares of company stock valued at $31,203,966 in the last three months. Corporate insiders own 12.78% of the company's stock.

Wall Street Analyst Weigh In

CPNG has been the subject of a number of recent analyst reports. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target for the company in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a report on Wednesday, August 6th. Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Nomura Securities upgraded Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Arete initiated coverage on Coupang in a research note on Thursday, September 18th. They issued a "buy" rating and a $40.00 price objective for the company. One 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. According to MarketBeat.com, Coupang has an average rating of "Moderate Buy" and an average price target of $33.11.

Coupang 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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