Tradition Wealth Management LLC Invests $206,000 in Coupang, Inc. $CPNG

Key Points

• Tradition Wealth Management LLC acquired 9,412 shares of Coupang, Inc., valued at approximately $206,000, in the 1st quarter of the year.
• Coupang's quarterly earnings report showed $8.52 billion in revenue and $0.02 earnings per share, which missed analysts' expectations.
• Institutional investors and hedge funds own 83.72% of Coupang's stock, reflecting significant confidence from large investors in the company.

Tradition Wealth Management LLC bought a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,412 shares of the company's stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPNG. GQG Partners LLC acquired a new position in shares of Coupang during the 1st quarter worth about $168,127,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Coupang by 436.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock worth $190,497,000 after buying an additional 7,067,830 shares during the last quarter. Nuveen LLC acquired a new position in shares of Coupang during the 1st quarter worth about $75,775,000. Durable Capital Partners LP boosted its stake in shares of Coupang by 13.6% during the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after buying an additional 3,420,133 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Coupang by 106.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company's stock worth $127,017,000 after buying an additional 2,979,981 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CPNG. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Barclays lifted their price target on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Morgan Stanley boosted their price target on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, Nomura raised Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Coupang presently has a consensus rating of "Moderate Buy" and an average target price of $31.13.

Coupang Stock Performance

Shares of CPNG traded down $0.22 during mid-day trading on Monday, hitting $28.53. 5,752,777 shares of the company's stock were exchanged, compared to its average volume of 9,468,541. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $31.65. The stock's 50-day simple moving average is $29.48 and its 200-day simple moving average is $26.14. The firm has a market cap of $52.01 billion, a price-to-earnings ratio of 142.66 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG - Get Free Report) last announced its 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 return on equity of 7.47% and a net margin of 1.13%.The business had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.34 billion. During the same period in the prior year, the business posted $0.07 earnings per share. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities research analysts expect that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Activity

In other news, CFO Gaurav Anand sold 175,000 shares of Coupang stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the transaction, the chief financial officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction on Monday, August 4th. The stock was sold at an average price of $29.14, for a total transaction of $339,568.42. Following the transaction, the vice president owned 158,676 shares in the company, valued at approximately $4,623,818.64. This trade represents a 6.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,462,003 shares of company stock valued at $295,524,795. 12.78% of the stock is owned by insiders.

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.