Ensign Peak Advisors Inc Reduces Stock Position in Coupang, Inc. (NYSE:CPNG)

Ensign Peak Advisors Inc lessened its position in Coupang, Inc. (NYSE:CPNG) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 775,840 shares of the company’s stock after selling 35,132 shares during the period. Ensign Peak Advisors Inc’s holdings in Coupang were worth $16,254,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Coupang by 308.2% in the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after purchasing an additional 1,470 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of Coupang during the first quarter valued at approximately $50,000. Opal Wealth Advisors LLC bought a new position in shares of Coupang during the second quarter valued at approximately $74,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Coupang by 360.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,118 shares of the company’s stock valued at $86,000 after acquiring an additional 3,224 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in Coupang in the second quarter worth $89,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Transactions at Coupang

In related news, Director Greenoaks Capital Partners Llc purchased 100,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average price of $22.95 per share, with a total value of $2,295,000.00. Following the transaction, the director now directly owns 50,476,224 shares in the company, valued at $1,158,429,340.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Greenoaks Capital Partners Llc purchased 100,000 shares of Coupang stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $22.95 per share, with a total value of $2,295,000.00. Following the completion of the transaction, the director now directly owns 50,476,224 shares of the company’s stock, valued at $1,158,429,340.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Sun sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.36, for a total value of $4,672,000.00. Following the completion of the transaction, the director now directly owns 1,969,421 shares in the company, valued at $46,005,674.56. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 601,300 shares of company stock valued at $13,604,354 and have sold 410,432 shares valued at $9,429,597. Insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and upped their price objective for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. Morgan Stanley increased their price target on shares of Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and an average target price of $27.25.

Coupang Trading Up 0.9 %

NYSE:CPNG opened at $24.79 on Tuesday. The firm has a market capitalization of $44.32 billion, a P/E ratio of 35.41, a PEG ratio of 171.76 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. Coupang, Inc. has a one year low of $13.51 and a one year high of $24.84. The company’s 50-day simple moving average is $22.08 and its 200 day simple moving average is $21.38.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same period in the previous year, the firm posted $0.08 EPS. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, analysts forecast that Coupang, Inc. will post 0.14 EPS for the current fiscal year.

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.