Pittenger & Anderson Inc. Takes Position in Coupang, Inc. $CPNG

Key Points

• Pittenger & Anderson Inc. acquired a new stake in Coupang, Inc. during the second quarter by purchasing 21,520 shares valued at approximately $645,000.
• Insider transactions included significant sales by Directors Pedro Franceschi and Benjamin Sun, with Franceschi selling 21,428 shares for about $686,767 and Sun selling 815,797 shares valued at over $26 million.
• Analysts have mixed ratings on Coupang, with recent upgrades from Nomura and Arete setting price targets of $35.00 and $40.00, respectively, while Zacks Research downgraded the stock to a strong sell rating.

Pittenger & Anderson Inc. purchased a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,520 shares of the company's stock, valued at approximately $645,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SVB Wealth LLC acquired a new stake in Coupang in the first quarter valued at $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Coupang in the first quarter valued at $30,000. Albion Financial Group UT acquired a new stake in Coupang in the second quarter valued at $30,000. Brooklyn Investment Group raised its stake in 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 buying an additional 506 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Coupang by 600.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock valued at $55,000 after buying an additional 2,149 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coupang

In related news, Director Pedro Franceschi sold 21,428 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Benjamin Sun sold 815,797 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total value of $26,007,608.36. Following the completion of the transaction, the director owned 503,624 shares in the company, valued at $16,055,533.12. This trade represents 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 over the last three months. 12.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research note on Wednesday, August 6th. Arete assumed coverage on Coupang in a research note on Thursday, September 18th. They issued a "buy" rating and a $40.00 price target on the stock. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Coupang in a research report on Wednesday, October 8th. Finally, Zacks Research cut Coupang from a "hold" rating to a "strong sell" rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.50.

Coupang Stock Down 0.9%

CPNG opened at $31.40 on Wednesday. The business's 50-day simple moving average is $30.93 and its 200-day simple moving average is $28.43. 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, Inc. has a one year low of $19.02 and a one year high of $34.08. The stock has a market capitalization of $57.24 billion, a P/E ratio of 157.01 and a beta of 1.18.

Coupang (NYSE:CPNG - Get Free Report) last issued 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 company had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The business's revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS. Analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

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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