Triumph Capital Management Has $1.04 Million Holdings 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 grew its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 251.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC acquired a new stake in shares of Coupang in the first quarter valued at approximately $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Coupang in the first quarter valued at approximately $30,000. Grove Bank & Trust acquired a new stake in shares of Coupang in the first quarter valued at approximately $33,000. Brooklyn Investment Group raised its holdings 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 purchasing an additional 506 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of 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.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several analyst reports. 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 note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a research note on Wednesday, August 6th. Morgan Stanley raised their target price on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.14.

Insider Buying and Selling

In other news, 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 sale, the director owned 503,624 shares of the company's stock, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Harold Rogers sold 64,755 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the completion of the sale, the insider directly owned 449,569 shares of the company's stock, valued at approximately $14,413,182.14. The trade was a 12.59% 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 valued at $31,203,966 in the last 90 days. 12.78% of the stock is currently owned by corporate insiders.

Coupang Trading Up 3.4%

CPNG stock opened at $33.51 on Tuesday. 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 fifty day moving average price of $29.69 and a two-hundred day moving average price of $26.75. Coupang, Inc. has a one year low of $19.02 and a one year high of $33.56. The stock has a market cap of $61.09 billion, a price-to-earnings ratio of 167.56 and a beta of 1.15.

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

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.

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