Flossbach Von Storch SE Invests $2.08 Million in Coupang, Inc. $CPNG

Flossbach Von Storch SE acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 120,000 shares of the company’s stock, valued at approximately $2,084,000.

A number of other hedge funds also recently modified their holdings of CPNG. Sunbelt Securities Inc. acquired a new stake in shares of Coupang during the 3rd quarter valued at about $26,000. Reflection Asset Management acquired a new position in Coupang in the 4th quarter valued at $28,000. Webster Bank N. A. grew its position in shares of Coupang by 325.8% in the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after purchasing an additional 1,300 shares during the last quarter. Main Street Group LTD acquired a new stake in Coupang in the 1st quarter valued at approximately $40,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Coupang during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In other Coupang news, CAO Jonathan D. Lee sold 5,519 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.10, for a total value of $88,855.90. Following the transaction, the chief accounting officer owned 181,915 shares of the company’s stock, valued at approximately $2,928,831.50. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the transaction, the insider directly owned 740,931 shares in the company, valued at approximately $11,988,263.58. This represents a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 12.83% of the company’s stock.

Coupang Trading Up 6.8%

NYSE CPNG opened at $16.63 on Thursday. The business’s 50-day moving average price is $17.05 and its two-hundred day moving average price is $17.91. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. The firm has a market capitalization of $29.90 billion, a PE ratio of -38.68 and a beta of 1.13.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.18. The company had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. Coupang’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 earnings per share. On average, analysts expect that Coupang, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Mizuho set a $22.00 target price on shares of Coupang in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 target price on Coupang in a research report on Thursday, July 9th. Barclays reissued an “overweight” rating and set a $29.00 price target on shares of Coupang in a research note on Tuesday, July 7th. Bank of America cut their target price on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and cut their target price for the stock from $23.00 to $21.50 in a report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.39.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.