Jupiter Asset Management Ltd. Acquires Shares of 41,443 Coupang, Inc. $CPNG

Jupiter Asset Management Ltd. acquired a new position in Coupang, Inc. (NYSE:CPNG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,443 shares of the company’s stock, valued at approximately $1,242,000.

A number of other large investors have also recently modified their holdings of the stock. Cerity Partners LLC lifted its holdings in Coupang by 42.0% in the first quarter. Cerity Partners LLC now owns 30,549 shares of the company’s stock worth $670,000 after buying an additional 9,042 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Coupang by 8.5% in the 1st quarter. Bleakley Financial Group LLC now owns 15,709 shares of the company’s stock valued at $344,000 after purchasing an additional 1,232 shares during the period. Sigma Planning Corp purchased a new position in shares of Coupang in the 1st quarter valued at approximately $339,000. Victory Capital Management Inc. boosted its position in shares of Coupang by 7.4% during the first quarter. Victory Capital Management Inc. now owns 96,433 shares of the company’s stock valued at $2,115,000 after purchasing an additional 6,646 shares in the last quarter. Finally, Forum Financial Management LP purchased a new stake in Coupang in the first quarter worth $271,000. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Down 0.9%

NYSE:CPNG opened at $28.28 on Friday. The firm has a market cap of $51.65 billion, a P/E ratio of 134.65 and a beta of 1.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08. The firm has a 50-day simple moving average of $31.62 and a two-hundred day simple moving average of $29.55.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.13 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s revenue was up 17.8% on a year-over-year basis. Analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CPNG. Barclays raised their price objective on Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday. Wall Street Zen cut shares of Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Arete initiated coverage on shares of Coupang in a research note on Thursday, September 18th. They set a “buy” rating and a $40.00 price objective on the stock. Arete Research initiated coverage on shares of Coupang in a research note on Thursday, September 18th. They set a “buy” rating and a $40.00 target price for the company. Finally, Nomura upgraded shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Insiders Place Their Bets

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of Coupang 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Harold Rogers sold 64,755 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total value of $2,076,045.30. Following the completion of the transaction, the insider owned 449,569 shares of the company’s stock, valued at $14,413,182.14. This represents a 12.59% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 913,633 shares of company stock valued at $29,143,084. 12.78% of the stock is currently owned by company insiders.

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.