Sagespring Wealth Partners LLC Makes New Investment in Coupang, Inc. $CPNG

Key Points

• Sagespring Wealth Partners LLC has made a new investment in Coupang, Inc., acquiring 10,062 shares valued at approximately $301,000 in the second quarter.
• Institutions currently own 83.72% of Coupang's stock, showing strong institutional interest in the company.
• Coupang's stock has an average rating of "Moderate Buy" from analysts, with a consensus price target of $33.50.

Sagespring Wealth Partners LLC acquired a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,062 shares of the company's stock, valued at approximately $301,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. SVB Wealth LLC bought a new stake in Coupang in the 1st quarter valued at $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Coupang during the first quarter valued at about $30,000. Albion Financial Group UT acquired a new position in shares of Coupang during the second quarter valued at about $30,000. Brooklyn Investment Group lifted its stake in shares of 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 during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in 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 buying an additional 2,149 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of research reports. Arete initiated coverage on Coupang in a research report on Thursday, September 18th. They issued a "buy" rating and a $40.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a research report on Wednesday, August 6th. Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Arete Research began coverage on shares of Coupang in a report on Thursday, September 18th. They set a "buy" rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.50.

Insiders Place Their Bets

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Benjamin Sun sold 815,797 shares of the company's stock in a transaction dated 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 sale, the director directly 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 988,983 shares of company stock worth $31,203,966 in the last quarter. 12.78% of the stock is owned by corporate insiders.

Coupang Trading Down 0.8%

Shares of CPNG opened at $31.25 on Friday. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $30.78 and a 200-day simple moving average of $28.24. The stock has a market cap of $56.97 billion, a PE ratio of 156.24 and a beta of 1.18.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. During the same period in the prior year, the firm earned $0.07 EPS. Coupang's quarterly revenue was up 16.4% compared to the same quarter last year. On average, sell-side analysts predict that Coupang, Inc. will post 0.17 EPS for the current fiscal 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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