Cetera Investment Advisers Raises Stock Position in Coupang, Inc. (NYSE:CPNG)

Cetera Investment Advisers increased its position in shares of Coupang, Inc. (NYSE:CPNG) by 122.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,332 shares of the company’s stock after acquiring an additional 35,992 shares during the period. Cetera Investment Advisers’ holdings in Coupang were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Coupang by 308.2% during the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after buying an additional 1,470 shares during the period. Register Financial Advisors LLC purchased a new position in shares of Coupang during the first quarter worth about $50,000. Opal Wealth Advisors LLC bought a new position in shares of Coupang in the second quarter worth approximately $74,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Coupang by 360.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,118 shares of the company’s stock worth $86,000 after purchasing an additional 3,224 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in Coupang in the second quarter valued at approximately $89,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CPNG. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Monday, October 7th. Morgan Stanley raised their price target on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Finally, CLSA upgraded 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and an average target price of $27.56.

Coupang Price Performance

Shares of Coupang stock opened at $25.17 on Wednesday. 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 $26.28. The business’s 50 day simple moving average is $23.63 and its two-hundred day simple moving average is $22.19. The stock has a market capitalization of $45.00 billion, a P/E ratio of 35.96, a price-to-earnings-growth ratio of 282.07 and a beta of 1.11.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. The company had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 earnings per share. Analysts forecast that Coupang, Inc. will post 0.09 EPS for the current year.

Insider Activity

In related news, CFO Gaurav Anand sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $22.75, for a total value of $4,550,000.00. Following the sale, the chief financial officer now directly owns 1,937,500 shares of the company’s stock, valued at $44,078,125. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the sale, the insider now directly owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gaurav Anand sold 200,000 shares of Coupang stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $22.75, for a total value of $4,550,000.00. Following the sale, the chief financial officer now directly owns 1,937,500 shares in the company, valued at approximately $44,078,125. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 601,300 shares of company stock valued at $13,604,354 and sold 411,388 shares valued at $9,452,761. Insiders own 13.60% of the company’s stock.

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.