Quarry LP Boosts Stock Holdings in Coupang, Inc. $CPNG

Quarry LP boosted its position in Coupang, Inc. (NYSE:CPNG) by 90.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 13,657 shares of the company’s stock after purchasing an additional 6,482 shares during the period. Quarry LP’s holdings in Coupang were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. SVB Wealth LLC purchased a new position in Coupang in the first quarter valued at approximately $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Coupang in the first quarter valued at approximately $30,000. Grove Bank & Trust purchased a new position in Coupang in the first quarter valued at approximately $33,000. Brooklyn Investment Group lifted its stake in Coupang by 43.1% in the first 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Coupang by 600.3% in the first 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 last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 0.2%

Coupang stock opened at $28.59 on Monday. The stock has a market cap of $52.11 billion, a P/E ratio of 142.94 and a beta of 1.15. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $31.65. The firm’s fifty day moving average price is $29.49 and its 200-day moving average price is $26.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09.

Coupang (NYSE:CPNG) last released its quarterly earnings results 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 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 company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. Equities research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

CPNG has been the topic of a number of analyst reports. Nomura raised shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a report on Wednesday, August 6th. Barclays boosted their target price on shares of Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. 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 report on Wednesday, August 20th. Finally, Wall Street Zen cut shares of Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.13.

Insider Buying and Selling at Coupang

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $28.25, for a total transaction of $282,500,000.00. Following the sale, the insider owned 309,542,259 shares in the company, valued at $8,744,568,816.75. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the transaction, the chief financial officer owned 2,016,940 shares of the company’s stock, valued at $56,050,762.60. The trade was a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,087,003 shares of company stock worth $284,933,545 over the last 90 days. Corporate insiders own 12.78% of the company’s stock.

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.