Equitable Trust Co. Acquires New Shares in Coupang, Inc. (NYSE:CPNG)

Equitable Trust Co. acquired a new stake in Coupang, Inc. (NYSE:CPNG) during the 2nd quarter, Holdings Channel reports. The fund acquired 127,619 shares of the company’s stock, valued at approximately $2,674,000.

Other large investors have also bought and sold shares of the company. Bain Capital Public Equity Management II LLC acquired a new stake in Coupang in the fourth quarter valued at about $18,850,000. Nebula Research & Development LLC boosted its stake in Coupang by 220.4% in the fourth quarter. Nebula Research & Development LLC now owns 98,140 shares of the company’s stock valued at $1,589,000 after buying an additional 67,509 shares in the last quarter. Kontiki Capital Management HK Ltd. boosted its stake in shares of Coupang by 3.5% during the fourth quarter. Kontiki Capital Management HK Ltd. now owns 8,533,568 shares of the company’s stock valued at $138,158,000 after purchasing an additional 287,000 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. boosted its stake in shares of Coupang by 49.0% during the fourth quarter. Tree Line Advisors Hong Kong Ltd. now owns 2,980,000 shares of the company’s stock valued at $48,246,000 after purchasing an additional 980,000 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in shares of Coupang by 17.9% during the first quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock valued at $318,000 after purchasing an additional 2,710 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays lifted their price target on Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Citigroup lifted their price target on Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Morgan Stanley lifted their price target on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Mizuho lifted their price target on Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Finally, UBS Group raised Coupang from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.50 to $26.00 in a research note on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

Coupang Trading Up 0.5 %

CPNG stock traded up $0.12 during mid-day trading on Friday, reaching $22.15. The company’s stock had a trading volume of 3,146,382 shares, compared to its average volume of 7,902,614. The company has a market cap of $39.60 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 877.23 and a beta of 1.09. The business’s 50 day moving average price is $21.44 and its 200 day moving average price is $20.68. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $23.77.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.39 billion. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The company’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share. On average, equities research analysts predict that Coupang, Inc. will post 0.14 EPS for the current year.

Insider Activity

In other news, Director Benjamin Sun sold 700,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 2,169,421 shares in the company, valued at $44,755,155.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Benjamin Sun sold 700,000 shares of Coupang stock in a transaction that occurred 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 transaction, the director now owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares in the company, valued at approximately $3,390,084.40. The disclosure for this sale can be found here. Over the last quarter, insiders bought 601,300 shares of company stock worth $13,604,354 and sold 1,110,432 shares worth $23,870,597. Corporate insiders own 13.60% of the company’s stock.

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.