Coupang (NYSE:CPNG) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Coupang (NYSE:CPNG) released its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01, Zacks reports. Coupang had a return on equity of 7.47% and a net margin of 1.13%.During the same quarter last year, the firm earned $0.06 EPS. The firm’s quarterly revenue was up 17.8% on a year-over-year basis.

Coupang Price Performance

Coupang stock traded up $0.11 during midday trading on Tuesday, reaching $32.09. 11,437,753 shares of the stock traded hands, compared to its average volume of 6,190,359. The stock has a market cap of $58.50 billion, a P/E ratio of 160.45 and a beta of 1.17. Coupang has a 12 month low of $19.02 and a 12 month high of $34.08. The stock’s fifty day moving average is $31.56 and its 200-day moving average is $29.29. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling

In other news, CFO Gaurav Anand sold 75,350 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 2,016,940 shares of the company’s stock, valued at $56,050,762.60. This trade represents a 3.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Harold Rogers sold 64,755 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total value of $2,076,045.30. Following the completion of the sale, the insider directly owned 449,569 shares of the company’s stock, valued at $14,413,182.14. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 977,330 shares of company stock valued at $30,864,398 over the last quarter. Company insiders own 12.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Coupang by 8.4% in the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after acquiring an additional 1,210,801 shares during the period. FORA Capital LLC purchased a new position in shares of Coupang in the 2nd quarter valued at $1,692,000. Corient Private Wealth LLC increased its holdings in shares of Coupang by 129.3% in the 2nd quarter. Corient Private Wealth LLC now owns 41,319 shares of the company’s stock valued at $1,238,000 after acquiring an additional 23,303 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Coupang in the 2nd quarter valued at $916,000. Finally, Snowden Capital Advisors LLC boosted its position in shares of Coupang by 18.1% in the 2nd quarter. Snowden Capital Advisors LLC now owns 55,990 shares of the company’s stock worth $1,677,000 after purchasing an additional 8,593 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CPNG shares. Zacks Research downgraded Coupang from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, August 6th. Wall Street Zen cut Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Arete began coverage on Coupang in a research report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Weiss Ratings restated 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, six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.50.

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.