Coupang, Inc. (NYSE:CPNG) Shares Bought by Ignite Planners LLC

Ignite Planners LLC lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 10.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,009 shares of the company’s stock after purchasing an additional 2,050 shares during the quarter. Ignite Planners LLC’s holdings in Coupang were worth $477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC increased its holdings in shares of Coupang by 135.8% during the 1st quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock worth $26,000 after buying an additional 827 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Coupang by 308.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after purchasing an additional 1,470 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Coupang during the 1st quarter worth about $50,000. Opal Wealth Advisors LLC acquired a new stake in Coupang during the 2nd quarter worth approximately $74,000. Finally, Acadian Asset Management LLC raised its holdings in Coupang by 438.7% in the first quarter. Acadian Asset Management LLC now owns 5,581 shares of the company’s stock valued at $99,000 after buying an additional 4,545 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CPNG. Mizuho increased their price objective on shares of Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Barclays upped their target price on Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. UBS Group upgraded Coupang from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.50 to $26.00 in a report on Thursday, May 16th. Morgan Stanley increased their price objective on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Finally, Citigroup upped their target price on shares of Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.71.

Insider Activity at Coupang

In other news, insider Pranam Kolari sold 6,490 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $22.93, for a total value of $148,815.70. Following the transaction, the insider now directly owns 181,461 shares in the company, valued at approximately $4,160,900.73. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the completion of the transaction, the director now directly owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Pranam Kolari sold 6,490 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $22.93, for a total value of $148,815.70. Following the completion of the sale, the insider now owns 181,461 shares in the company, valued at $4,160,900.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 756,922 shares of company stock valued at $15,717,413. Corporate insiders own 13.60% of the company’s stock.

Coupang Stock Down 0.8 %

Shares of CPNG traded down $0.19 during midday trading on Friday, hitting $22.59. The company had a trading volume of 17,900,442 shares, compared to its average volume of 10,928,216. The stock has a market cap of $40.39 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 2,041.58 and a beta of 1.09. The company’s 50 day moving average price is $21.14 and its 200 day moving average price is $19.82. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.67. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $23.77.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. Coupang had a return on equity of 13.59% and a net margin of 4.96%. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.39 billion. During the same period in the previous year, the company earned $0.08 earnings per share. Coupang’s quarterly revenue was up 25.4% on a year-over-year basis. On average, equities research analysts predict that Coupang, Inc. will post 0.01 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.