Bryce Point Capital LLC Invests $874,000 in Coupang, Inc. $CPNG

Bryce Point Capital LLC purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,168 shares of the company’s stock, valued at approximately $874,000.

Several other hedge funds have also made changes to their positions in the business. Sequoia Financial Advisors LLC lifted its position in shares of Coupang by 0.5% during the second quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock worth $2,051,000 after purchasing an additional 363 shares in the last quarter. Inspirion Wealth Advisors LLC lifted its position in shares of Coupang by 0.3% during the second quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock worth $4,024,000 after purchasing an additional 400 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in shares of Coupang by 1.4% during the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock worth $646,000 after purchasing an additional 408 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its position in shares of Coupang by 4.3% during the second quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock worth $323,000 after purchasing an additional 461 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in shares of Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Up 0.1%

Shares of NYSE:CPNG opened at $32.00 on Tuesday. The firm’s 50 day moving average price is $31.49 and its 200 day moving average price is $29.21. The stock has a market cap of $58.34 billion, a price-to-earnings ratio of 160.02 and a beta of 1.18. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 earnings per share 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 analyst estimates of $8.34 billion. During the same period in the previous year, the business posted $0.07 EPS. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, equities research analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CPNG. Arete began coverage on shares of Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Nomura Securities raised shares of Coupang to a “strong-buy” rating in a report 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 report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a report on Wednesday, August 6th. Finally, Wall Street Zen cut shares of Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Coupang has an average rating of “Moderate Buy” and an average price target of $33.50.

Insider Activity at Coupang

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Harold Rogers sold 64,755 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the sale, the insider directly owned 449,569 shares in the company, valued at approximately $14,413,182.14. The trade was a 12.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 977,330 shares of company stock worth $30,864,398 in the last ninety days. Company insiders own 12.78% of the company’s stock.

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.