Coupang, Inc. $CPNG Shares Acquired by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. increased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 35.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,900 shares of the company’s stock after buying an additional 6,000 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Coupang were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Coupang by 3.9% during the first quarter. Bank of New York Mellon Corp now owns 2,941,758 shares of the company’s stock valued at $64,513,000 after purchasing an additional 111,556 shares in the last quarter. Leavell Investment Management Inc. raised its position in shares of Coupang by 8.2% during the 1st quarter. Leavell Investment Management Inc. now owns 19,900 shares of the company’s stock worth $436,000 after purchasing an additional 1,500 shares during the last quarter. Cerity Partners LLC raised its position in shares of Coupang by 42.0% during the 1st quarter. Cerity Partners LLC now owns 30,549 shares of the company’s stock worth $670,000 after purchasing an additional 9,042 shares during the last quarter. Xponance Inc. lifted its stake in Coupang by 4.4% in the 1st quarter. Xponance Inc. now owns 165,476 shares of the company’s stock valued at $3,629,000 after buying an additional 7,017 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in Coupang by 8.5% in the 1st quarter. Bleakley Financial Group LLC now owns 15,709 shares of the company’s stock worth $344,000 after buying an additional 1,232 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Transactions 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 stock was sold at an average price of $31.88, for a total value of $26,007,608.36. Following the completion of the transaction, the director directly owned 503,624 shares in the company, valued at approximately $16,055,533.12. This represents a 61.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pedro Franceschi sold 21,428 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 988,983 shares of company stock valued at $31,237,061 in the last ninety days. 12.78% of the stock is currently owned by corporate insiders.

Coupang Stock Down 0.3%

NYSE CPNG opened at $28.90 on Friday. The business’s fifty day simple moving average is $31.61 and its 200-day simple moving average is $29.35. The company has a quick ratio of 0.84, a current ratio of 1.06 and a debt-to-equity ratio of 0.13. The firm has a market cap of $52.69 billion, a PE ratio of 137.64 and a beta of 1.17. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The firm had revenue of $9.27 billion during the quarter, compared to analyst estimates of $9.13 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Coupang’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on CPNG. Morgan Stanley increased their target price on Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Bank of America boosted their price target on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Arete Research assumed coverage on Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective on the stock. Wall Street Zen lowered shares of Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.56.

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.