Coupang, Inc. $CPNG Shares Sold by Parallel Advisors LLC

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 decreased its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CPNG. SVB Wealth LLC acquired a new position in Coupang during the first quarter worth $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Coupang during the first quarter valued at approximately $30,000. Grove Bank & Trust bought a new position in Coupang in the 1st quarter worth approximately $33,000. 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 worth $37,000 after acquiring an additional 506 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Coupang by 600.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock worth $55,000 after acquiring an additional 2,149 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Transactions at Coupang

In related news, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the transaction, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. This trade represents a 3.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Pedro Franceschi sold 21,428 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total transaction of $686,767.40. The disclosure for this sale can be found here. Insiders sold a total of 988,983 shares of company stock worth $31,203,966 over the last ninety days. 12.78% of the stock is currently owned by insiders.

Coupang Price Performance

Shares of CPNG stock traded up $0.08 during mid-day trading on Friday, hitting $33.50. The company had a trading volume of 4,093,537 shares, compared to its average volume of 9,858,283. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $34.08. The stock's 50 day moving average price is $29.89 and its 200-day moving average price is $26.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The company has a market capitalization of $61.06 billion, a P/E ratio of 167.59 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The firm had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company's revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS. Equities research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CPNG. Arete Research began coverage on shares of Coupang in a research note on Thursday. They set a "buy" rating and a $40.00 price target for the company. Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Arete initiated coverage on shares of Coupang in a research note on Thursday. They set a "buy" rating and a $40.00 price objective for the company. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research note on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a report on Wednesday, August 6th. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $33.11.

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.