Ignite Planners LLC Sells 2,010 Shares of Coupang, Inc. $CPNG

Ignite Planners LLC trimmed its position in Coupang, Inc. (NYSE:CPNG) by 9.8% in the second quarter, HoldingsChannel reports. The firm owned 18,550 shares of the company’s stock after selling 2,010 shares during the quarter. Ignite Planners LLC’s holdings in Coupang were worth $584,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Joel Isaacson & Co. LLC bought a new stake in Coupang in the 2nd quarter worth about $298,000. DAVENPORT & Co LLC bought a new stake in Coupang in the 2nd quarter worth about $470,000. Ameritas Advisory Services LLC bought a new stake in Coupang in the 2nd quarter worth about $58,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Coupang in the 2nd quarter worth about $3,073,000. Finally, Lecap Asset Management Ltd. bought a new stake in Coupang in the 2nd quarter worth about $406,000. 83.72% of the stock is owned by institutional investors.

Insider Activity at Coupang

In related news, CFO Gaurav Anand sold 75,350 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the sale, the chief financial officer directly owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. This represents a 3.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Pedro Franceschi sold 21,428 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The disclosure for this sale can be found here. Insiders sold a total of 988,983 shares of company stock worth $31,203,966 in the last ninety days. Insiders own 12.78% of the company’s stock.

Coupang Stock Performance

Shares of CPNG stock opened at $32.18 on Thursday. The stock has a market capitalization of $58.67 billion, a P/E ratio of 160.91 and a beta of 1.18. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $30.38 and its 200 day moving average is $27.82. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $34.08.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The business had revenue of $8.52 billion for the quarter, compared to analysts’ expectations of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, sell-side analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPNG. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a research report on Wednesday, August 6th. Morgan Stanley increased their target price on shares of Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Wall Street Zen downgraded shares of Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Nomura Securities raised shares of Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Finally, Arete Research initiated coverage on shares of Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.50.

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.