LPL Financial LLC Buys 22,972 Shares of Coupang, Inc. $CPNG

Key Points

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LPL Financial LLC grew its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,026 shares of the company's stock after acquiring an additional 22,972 shares during the period. LPL Financial LLC's holdings in Coupang were worth $2,325,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Cerity Partners LLC lifted its stake in Coupang by 7.7% in the 4th quarter. Cerity Partners LLC now owns 21,507 shares of the company's stock worth $512,000 after purchasing an additional 1,538 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Coupang in the fourth quarter worth $439,000. Jump Financial LLC bought a new stake in Coupang during the fourth quarter valued at $773,000. First Trust Advisors LP boosted its stake in Coupang by 51.8% during the fourth quarter. First Trust Advisors LP now owns 1,759,451 shares of the company's stock valued at $38,673,000 after buying an additional 600,353 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Coupang by 97.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,249,233 shares of the company's stock worth $49,440,000 after buying an additional 1,107,659 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Benjamin Sun sold 200,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total value of $5,672,000.00. Following the transaction, the director owned 1,319,421 shares in the company, valued at approximately $37,418,779.56. This trade represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gaurav Anand sold 175,000 shares of Coupang stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the completion of the transaction, the chief financial officer directly owned 2,092,290 shares in the company, valued at approximately $58,814,271.90. The trade was a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,462,003 shares of company stock valued at $295,524,795 in the last 90 days. 12.78% of the stock is owned by insiders.

Coupang Trading Down 2.2%

NYSE:CPNG traded down $0.6250 during trading hours on Thursday, reaching $28.2150. The company's stock had a trading volume of 12,505,028 shares, compared to its average volume of 9,488,955. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market capitalization of $51.44 billion, a price-to-earnings ratio of 141.08 and a beta of 1.16. The firm has a 50-day simple moving average of $29.47 and a 200-day simple moving average of $26.04. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $31.65.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly 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 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. Research analysts expect that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CPNG. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a research report on Wednesday, August 6th. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Barclays boosted their price target on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Nomura raised shares of 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, Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Coupang currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

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.