Endowment Wealth Management Inc. reduced its position in Coupang, Inc. (NYSE:CPNG – Free Report) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,415 shares of the company’s stock after selling 1,308 shares during the quarter. Endowment Wealth Management Inc.’s holdings in Coupang were worth $582,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPNG. Sequoia Financial Advisors LLC increased its position in shares of Coupang by 0.5% during the second quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock worth $2,051,000 after acquiring an additional 363 shares during the period. CWM LLC increased its position in shares of Coupang by 17.0% during the second quarter. CWM LLC now owns 169,346 shares of the company’s stock worth $5,074,000 after acquiring an additional 24,638 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Coupang by 34.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 82,154 shares of the company’s stock worth $2,461,000 after acquiring an additional 21,227 shares during the period. Apollon Wealth Management LLC purchased a new position in shares of Coupang during the second quarter worth approximately $272,000. Finally, Aberdeen Group plc increased its position in shares of Coupang by 11.3% during the second quarter. Aberdeen Group plc now owns 602,922 shares of the company’s stock worth $18,064,000 after acquiring an additional 61,150 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Coupang
In related news, VP Pranam Kolari sold 11,653 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $29.14, for a total transaction of $339,568.42. Following the completion of the transaction, the vice president directly owned 158,676 shares in the company, valued at $4,623,818.64. The trade was a 6.84% 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, Director Pedro Franceschi sold 21,428 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The disclosure for this sale can be found here. Insiders sold a total of 988,983 shares of company stock valued at $31,203,966 over the last ninety days. Corporate insiders own 12.78% of the company’s stock.
Coupang Trading Down 3.7%
Coupang (NYSE:CPNG – Get Free Report) last posted its 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 business had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Nomura Securities raised shares of Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Arete Research started coverage on shares of Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 price objective on the stock. Morgan Stanley lifted their price objective 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 downgraded shares of Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.50.
Get Our Latest Report on Coupang
Coupang Company 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.
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