Washington Capital Management Inc. Invests $416,000 in Coupang, Inc. $CPNG

Key Points

• Washington Capital Management Inc. invested approximately $416,000 in Coupang, acquiring 13,900 shares of the stock during the 2nd quarter.
• Coupang's recent earnings report showed revenues of $8.52 billion for the quarter, exceeding analyst expectations, but earnings per share missed consensus estimates.
• Several large investors, including Wealth Enhancement Advisory Services and GAMMA Investing LLC, have significantly increased their holdings in Coupang recently, indicating growing institutional interest.

Washington Capital Management Inc. acquired a new position in Coupang, Inc. (NYSE:CPNG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 13,900 shares of the company's stock, valued at approximately $416,000.

Several other large investors have also recently modified their holdings of CPNG. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Coupang by 12.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,531 shares of the company's stock worth $209,000 after buying an additional 1,080 shares during the period. California State Teachers Retirement System increased its holdings in shares of Coupang by 0.5% in the fourth quarter. California State Teachers Retirement System now owns 85,489 shares of the company's stock worth $1,879,000 after buying an additional 445 shares during the period. Versant Capital Management Inc increased its holdings in shares of Coupang by 834.2% in the first quarter. Versant Capital Management Inc now owns 5,979 shares of the company's stock worth $131,000 after buying an additional 5,339 shares during the period. GAMMA Investing LLC increased its holdings in shares of Coupang by 2,448.7% in the first quarter. GAMMA Investing LLC now owns 55,154 shares of the company's stock worth $1,210,000 after buying an additional 52,990 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Coupang by 2.8% in the first quarter. Rhumbline Advisers now owns 1,871,439 shares of the company's stock worth $41,041,000 after buying an additional 51,230 shares during the period. Hedge funds and other institutional investors own 83.72% of the company's stock.

Coupang Stock Performance

Coupang stock opened at $32.23 on Monday. The stock's 50 day simple moving average is $30.04 and its two-hundred day simple moving average is $27.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The stock has a market cap of $58.76 billion, a price-to-earnings ratio of 161.17 and a beta of 1.15. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08.

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

Insider Buying and Selling at Coupang

In other Coupang news, Director Benjamin Sun sold 815,797 shares of Coupang stock in a transaction that occurred on 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 of the company's stock, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 988,983 shares of company stock worth $31,203,966. Insiders own 12.78% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CPNG. Morgan Stanley lifted their price objective on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target on the stock. in a report on Wednesday, August 6th. Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Arete initiated coverage on Coupang in a report on Thursday, September 18th. They set a "buy" rating and a $40.00 price target on the stock. Finally, Nomura Securities upgraded Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.11.

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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