Coupang, Inc. (NYSE:CPNG) Shares Sold by Deepwater Asset Management LLC

Deepwater Asset Management LLC decreased its position in shares of Coupang, Inc. (NYSE:CPNG) by 16.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 664,920 shares of the company’s stock after selling 126,644 shares during the period. Coupang comprises 5.1% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 12th biggest position. Deepwater Asset Management LLC’s holdings in Coupang were worth $13,930,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft lifted its position in shares of Coupang by 5.7% during the second quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock worth $219,000 after purchasing an additional 567 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in Coupang by 6.0% during the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock worth $235,000 after buying an additional 635 shares in the last quarter. National Bank of Canada FI boosted its position in Coupang by 15.4% in the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock valued at $141,000 after buying an additional 890 shares during the period. TCW Group Inc. grew its stake in shares of Coupang by 6.4% in the second quarter. TCW Group Inc. now owns 16,781 shares of the company’s stock worth $352,000 after acquiring an additional 1,007 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Coupang by 2.2% in the first quarter. Private Advisor Group LLC now owns 48,088 shares of the company’s stock worth $855,000 after acquiring an additional 1,036 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Trading Up 1.6 %

CPNG opened at $24.58 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12. Coupang, Inc. has a one year low of $13.51 and a one year high of $24.74. The company has a market cap of $43.95 billion, a P/E ratio of 35.11, a PEG ratio of 171.76 and a beta of 1.10. The business’s 50-day simple moving average is $22.08 and its 200-day simple moving average is $21.34.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The company had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same quarter last year, the company earned $0.08 earnings per share. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities research analysts expect that Coupang, Inc. will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. CLSA raised Coupang from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Insider Buying and Selling

In other Coupang news, Director Benjamin Sun sold 200,000 shares of the company’s stock in a transaction 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 owns 1,969,421 shares in the company, valued at $46,005,674.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the completion of the sale, the director now owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 601,300 shares of company stock worth $13,604,354 and have sold 410,432 shares worth $9,429,597. 13.60% of the stock is owned by company insiders.

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.