Parallel Advisors LLC Sells 26,578 Shares of Coupang, Inc. $CPNG

Key Points

• Parallel Advisors LLC sold 26,578 shares of Coupang, reducing its holdings by 6.5% to a total of 380,165 shares valued at approximately $11.39 million.
• Insider trading activity includes VP Pranam Kolari and Director Benjamin Sun selling a combined total of 827,450 shares, representing significant reductions in their respective positions.
• Coupang reported $8.52 billion in revenue during the last quarter, exceeding analysts' expectations, but missed earnings estimates with $0.02 earnings per share compared to a consensus of $0.07.

Parallel Advisors LLC trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 6.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 380,165 shares of the company's stock after selling 26,578 shares during the period. Parallel Advisors LLC's holdings in Coupang were worth $11,390,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SVB Wealth LLC bought a new position in shares of Coupang in the 1st quarter worth $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Coupang in the 1st quarter worth $30,000. Grove Bank & Trust bought a new position in shares of Coupang in the 1st quarter worth $33,000. Brooklyn Investment Group lifted its holdings in shares of Coupang by 43.1% in the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after purchasing an additional 506 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Coupang by 600.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock worth $55,000 after purchasing an additional 2,149 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Coupang news, VP Pranam Kolari sold 11,653 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the completion of the transaction, the vice president owned 158,676 shares in the company, valued at $4,623,818.64. This trade represents a 6.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin Sun sold 815,797 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the transaction, the director directly owned 503,624 shares in the company, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 988,983 shares of company stock worth $31,203,966 in the last quarter. 12.78% of the stock is currently owned by company insiders.

Coupang Stock Performance

Shares of CPNG opened at $32.45 on Monday. The business has a 50-day moving average of $29.62 and a 200 day moving average of $26.68. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $32.89. The firm has a market cap of $59.16 billion, a P/E ratio of 162.26 and a beta of 1.15. 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 announced its quarterly earnings data 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). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The firm had revenue of $8.52 billion during the quarter, compared to analysts' expectations of $8.34 billion. During the same period last year, the business posted $0.07 EPS. The company's revenue was up 16.4% compared to the same quarter last year. As a group, research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CPNG shares. Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Morgan Stanley increased their price target on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Nomura raised 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 lowered 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. Finally, Nomura Securities raised Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Coupang has a consensus rating of "Moderate Buy" and a consensus target price of $31.14.

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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