Ignite Planners LLC Sells 2,330 Shares of Coupang, Inc. (NYSE:CPNG)

Ignite Planners LLC lowered its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 10.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,679 shares of the company’s stock after selling 2,330 shares during the period. Ignite Planners LLC’s holdings in Coupang were worth $483,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bain Capital Public Equity Management II LLC acquired a new stake in Coupang during the fourth quarter worth approximately $18,850,000. Nebula Research & Development LLC grew its stake in Coupang by 220.4% during the fourth quarter. Nebula Research & Development LLC now owns 98,140 shares of the company’s stock worth $1,589,000 after purchasing an additional 67,509 shares during the period. Bleakley Financial Group LLC grew its stake in Coupang by 17.9% during the first quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock worth $318,000 after purchasing an additional 2,710 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in Coupang by 5.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,237,250 shares of the company’s stock worth $39,801,000 after purchasing an additional 110,700 shares during the period. Finally, Handelsbanken Fonder AB grew its stake in Coupang by 2.9% during the third quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock worth $21,706,000 after purchasing an additional 24,553 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several recent analyst reports. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Monday. CLSA raised Coupang from a “hold” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. Finally, Morgan Stanley raised their price objective on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Insider Buying and Selling

In related news, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the sale, the director now directly owns 1,969,421 shares in the company, valued at approximately $46,005,674.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Coupang news, Director Greenoaks Capital Partners Llc purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $22.95 per share, for a total transaction of $2,295,000.00. Following the completion of the acquisition, the director now owns 50,476,224 shares of the company’s stock, valued at $1,158,429,340.80. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.36, for a total value of $4,672,000.00. Following the sale, the director now owns 1,969,421 shares in the company, valued at $46,005,674.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 601,300 shares of company stock worth $13,604,354 and have sold 411,388 shares worth $9,452,761. 13.60% of the stock is currently owned by corporate insiders.

Coupang Stock Down 0.4 %

Shares of NYSE:CPNG opened at $25.70 on Wednesday. The stock has a market cap of $45.95 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 181.74 and a beta of 1.11. The company has a quick ratio of 0.87, a current ratio of 1.12 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 $26.28. The business’s 50 day moving average is $23.02 and its 200 day moving average is $21.85.

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

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.