Coupang (NYSE:CPNG) Releases Quarterly Earnings Results

Coupang (NYSE:CPNG) posted its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01, Zacks reports. Coupang had a return on equity of 7.47% and a net margin of 1.13%.

Coupang Stock Performance

Shares of CPNG traded up $0.11 on Tuesday, reaching $32.09. 11,437,753 shares of the stock traded hands, compared to its average volume of 9,931,256. The firm has a market cap of $58.50 billion, a price-to-earnings ratio of 160.45 and a beta of 1.18. Coupang has a 12 month low of $19.02 and a 12 month high of $34.08. The stock’s 50-day moving average price is $31.49 and its 200-day moving average price is $29.21. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84.

Insider Buying and Selling at Coupang

In other news, Director Pedro Franceschi sold 21,428 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the transaction, the chief financial officer owned 2,016,940 shares of the company’s stock, valued at approximately $56,050,762.60. This represents a 3.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 977,330 shares of company stock worth $30,864,398. Corporate insiders own 12.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPNG. Durable Capital Partners LP lifted its stake in Coupang by 7.5% during the second quarter. Durable Capital Partners LP now owns 24,743,982 shares of the company’s stock worth $741,330,000 after purchasing an additional 1,734,980 shares during the period. Greenoaks Capital Partners LLC lifted its stake in Coupang by 11.0% during the second quarter. Greenoaks Capital Partners LLC now owns 15,377,927 shares of the company’s stock worth $460,723,000 after purchasing an additional 1,519,871 shares during the period. State Street Corp lifted its stake in Coupang by 8.4% during the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock worth $468,628,000 after purchasing an additional 1,210,801 shares during the period. Canada Pension Plan Investment Board lifted its stake in Coupang by 50.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,321,403 shares of the company’s stock worth $39,589,000 after purchasing an additional 443,917 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in Coupang by 27.3% during the second quarter. Raymond James Financial Inc. now owns 1,681,304 shares of the company’s stock worth $50,372,000 after purchasing an additional 360,527 shares during the period. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CPNG shares. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research note on Wednesday, August 6th. Nomura raised shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Morgan Stanley increased their target price on shares of Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.50.

About Coupang

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.