Mesirow Financial Investment Management Inc. Decreases Stake in Coupang, Inc. $CPNG

Mesirow Financial Investment Management Inc. cut its holdings in Coupang, Inc. (NYSE:CPNG) by 22.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,357 shares of the company’s stock after selling 2,914 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Coupang were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CPNG. Dodge & Cox boosted its position in shares of Coupang by 101.6% in the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock worth $894,413,000 after buying an additional 20,555,600 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Coupang in the 1st quarter worth about $168,127,000. Massachusetts Financial Services Co. MA boosted its position in shares of Coupang by 436.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company’s stock worth $190,497,000 after buying an additional 7,067,830 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Coupang in the 1st quarter worth about $75,775,000. Finally, AustralianSuper Pty Ltd purchased a new stake in shares of Coupang in the 2nd quarter worth about $51,313,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CPNG shares. Arete Research started coverage on shares of Coupang in a research note on Thursday, September 18th. They issued a “buy” rating and a $40.00 target price for the company. Morgan Stanley boosted their target price on shares of Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Coupang in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Zacks Research lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.50.

Insider Buying and Selling at Coupang

In related news, Director Benjamin Sun sold 815,797 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director owned 503,624 shares of the company’s stock, valued at approximately $16,055,533.12. This represents a 61.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was 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 of the company’s stock, valued at approximately $56,050,762.60. This trade represents a 3.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 977,330 shares of company stock worth $30,864,398 in the last quarter. Company insiders own 12.78% of the company’s stock.

Coupang Trading Up 0.1%

Shares of CPNG stock opened at $31.99 on Monday. The firm has a market cap of $58.32 billion, a P/E ratio of 159.96 and a beta of 1.17. 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. The firm’s 50-day simple moving average is $31.42 and its 200-day simple moving average is $29.14.

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

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.