Virtu Financial LLC Buys 11,696 Shares of Coupang, Inc. (NYSE:CPNG)

Key Points

• Virtu Financial LLC increased its stake in Coupang, Inc. by 89.1%, owning 24,818 shares worth approximately $544,000 after acquiring an additional 11,696 shares in the first quarter.
• Insider sales included Coupang's VP Pranam Kolari selling 11,653 shares for over $339,000, and CFO Gaurav Anand selling 175,000 shares totaling nearly $4.92 million.
• Research firms have varied outlooks on Coupang's stock; Barclays raised its target to $36.00 while Deutsche Bank downgraded it from a "buy" to a "hold" with a target of $27.00.

Virtu Financial LLC lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 89.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,818 shares of the company's stock after purchasing an additional 11,696 shares during the period. Virtu Financial LLC's holdings in Coupang were worth $544,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Cerity Partners LLC raised its stake in Coupang by 7.7% during the fourth quarter. Cerity Partners LLC now owns 21,507 shares of the company's stock worth $512,000 after buying an additional 1,538 shares during the last quarter. Invesco Ltd. raised its stake in Coupang by 5.3% during the fourth quarter. Invesco Ltd. now owns 1,261,187 shares of the company's stock worth $27,721,000 after buying an additional 62,912 shares during the last quarter. Synovus Financial Corp bought a new position in Coupang during the fourth quarter worth $368,000. Mariner LLC increased its stake in Coupang by 0.8% in the fourth quarter. Mariner LLC now owns 339,591 shares of the company's stock valued at $7,464,000 after purchasing an additional 2,638 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its stake in Coupang by 39,773.5% in the fourth quarter. Belpointe Asset Management LLC now owns 33,095 shares of the company's stock valued at $733,000 after purchasing an additional 33,012 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CPNG. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a report on Wednesday, August 6th. Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a report on Wednesday, August 6th. Finally, Barclays lifted their price objective on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.57.

Insider Activity at Coupang

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

Coupang Price Performance

Shares of NYSE:CPNG traded down $0.19 during trading on Friday, reaching $28.14. The company had a trading volume of 6,975,777 shares, compared to its average volume of 11,505,234. The company has a fifty day moving average of $29.43 and a two-hundred day moving average of $25.95. The stock has a market capitalization of $51.30 billion, a P/E ratio of 140.71 and a beta of 1.16. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $31.65. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

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