Highland Capital Management LLC Acquires Shares of 51,612 Coupang, Inc. (NYSE:CPNG)

Highland Capital Management LLC acquired a new stake in Coupang, Inc. (NYSE:CPNG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 51,612 shares of the company’s stock, valued at approximately $1,081,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPNG. Global Retirement Partners LLC boosted its stake in shares of Coupang by 135.8% during the first quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock valued at $26,000 after purchasing an additional 827 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 acquiring an additional 1,470 shares during the period. Register Financial Advisors LLC bought a new stake in Coupang during the first quarter valued at about $50,000. Opal Wealth Advisors LLC purchased a new position in Coupang in the second quarter valued at about $74,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Coupang in the 2nd quarter worth approximately $89,000. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Coupang stock traded up $0.01 during mid-day trading on Monday, hitting $22.88. The company had a trading volume of 210,734 shares, compared to its average volume of 10,630,825. The company has a market capitalization of $40.91 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 2,041.58 and a beta of 1.09. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $23.77. The company’s fifty day moving average is $21.29 and its 200-day moving average is $20.41. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.39 billion. Coupang had a net margin of 4.96% and a return on equity of 13.59%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. Equities research analysts predict that Coupang, Inc. will post 0.01 EPS for the current year.

Insider Transactions at Coupang

In other news, Director Greenoaks Capital Partners Llc acquired 100,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of $22.95 per share, for a total transaction of $2,295,000.00. Following the purchase, the director now owns 50,476,224 shares in the company, valued at $1,158,429,340.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coupang news, Director Greenoaks Capital Partners Llc acquired 100,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was bought at an average price of $22.95 per share, for a total transaction of $2,295,000.00. Following the acquisition, the director now owns 50,476,224 shares in the company, valued at $1,158,429,340.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $14,441,000.00. Following the transaction, the director now owns 2,169,421 shares in the company, valued at $44,755,155.23. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 601,300 shares of company stock valued at $13,604,354 and have sold 1,150,432 shares valued at $24,790,597. Corporate insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CPNG shares. Bank of America assumed coverage on shares of Coupang in a research report on Friday, May 3rd. They set a “buy” rating and a $30.00 target price for the company. Morgan Stanley upped their price target on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Mizuho raised their price target on shares of Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Barclays boosted their price objective on shares of Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Finally, Citigroup increased their price target on shares of Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.71.

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.