Triumph Capital Management Increases Stake in Coupang, Inc. $CPNG

Key Points

• Triumph Capital Management has increased its holdings in Coupang, Inc. by 251.3%, now owning 34,556 shares valued at approximately $1.04 million.
• Recent analyst reports on Coupang indicate a mix of ratings, with Nomura upgrading it to a "buy" with a target price of $35.00 and Deutsche Bank downgrading to a "hold" with a target price of $27.00.
• Insider sales have occurred, with Director Benjamin Sun selling over 815,000 shares for about $26 million, significantly reducing his ownership stake by 61.83%.

Triumph Capital Management lifted its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 251.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,556 shares of the company's stock after purchasing an additional 24,718 shares during the period. Triumph Capital Management's holdings in Coupang were worth $1,035,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CPNG. Dodge & Cox grew its position in shares of Coupang by 101.6% during the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock valued at $894,413,000 after acquiring an additional 20,555,600 shares during the period. GQG Partners LLC purchased a new stake in Coupang in the first quarter valued at approximately $168,127,000. Massachusetts Financial Services Co. MA increased its position in shares of Coupang by 436.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock worth $190,497,000 after acquiring an additional 7,067,830 shares during the period. Nuveen LLC acquired a new position in shares of Coupang during the first quarter worth $75,775,000. Finally, Assenagon Asset Management S.A. boosted its stake in Coupang by 204.7% in the first quarter. Assenagon Asset Management S.A. now owns 3,352,002 shares of the company's stock valued at $73,509,000 after acquiring an additional 2,251,819 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Trading Down 1.4%

Shares of CPNG traded down $0.47 during mid-day trading on Friday, hitting $32.95. 111,558,696 shares of the company's stock traded hands, compared to its average volume of 12,638,589. The firm has a market capitalization of $60.07 billion, a P/E ratio of 164.76 and a beta of 1.15. 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, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08. The business's 50-day moving average price is $29.94 and its 200-day moving average price is $26.97.

Coupang (NYSE:CPNG - Get Free Report) last released its 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). 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 analysts' expectations of $8.34 billion. During the same quarter in the prior year, the business posted $0.07 EPS. The business's revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of the business'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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Harold Rogers sold 64,755 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total value of $2,076,045.30. Following the completion of the transaction, the insider owned 449,569 shares of the company's stock, valued at $14,413,182.14. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 988,983 shares of company stock valued at $31,203,966 in the last 90 days. Corporate insiders own 12.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPNG. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Arete began coverage on shares of Coupang in a research note on Thursday. They set a "buy" rating and a $40.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a report on Wednesday, August 6th. Morgan Stanley boosted their target price on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Finally, Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.11.

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.