4,000 Shares in Coupang, Inc. $CPNG Bought by Canton Hathaway LLC

Canton Hathaway LLC bought a new position in Coupang, Inc. (NYSE:CPNG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,000 shares of the company’s stock, valued at approximately $120,000.

Other hedge funds also recently made changes to their positions in the company. SVB Wealth LLC purchased a new position in shares of Coupang in the first quarter worth $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Coupang in the first quarter worth $30,000. Albion Financial Group UT purchased a new position in Coupang during the 2nd quarter valued at $30,000. Brooklyn Investment Group increased its position in Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock valued at $37,000 after purchasing an additional 506 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Coupang by 600.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company’s stock valued at $55,000 after purchasing an additional 2,149 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Performance

Shares of Coupang stock opened at $31.92 on Friday. The stock has a market cap of $58.18 billion, a price-to-earnings ratio of 159.58 and a beta of 1.18. The firm’s 50-day moving average is $31.35 and its 200 day moving average is $28.96. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84.

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

Analyst Ratings Changes

A number of research analysts have issued reports on CPNG shares. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Nomura raised shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Wednesday, August 6th. Finally, Arete initiated coverage on shares of Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.50.

Insider Buying and Selling at Coupang

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gaurav Anand sold 75,350 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer owned 2,016,940 shares in the company, valued at $56,050,762.60. This represents a 3.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is owned by company insiders.

Coupang 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.