DAVENPORT & Co LLC Invests $470,000 in Coupang, Inc. $CPNG

DAVENPORT & Co LLC acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) in the second quarter, Holdings Channel reports. The fund acquired 15,691 shares of the company’s stock, valued at approximately $470,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPNG. SVB Wealth LLC bought a new position in shares of Coupang during the 1st quarter worth about $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Coupang during the 1st quarter worth about $30,000. Albion Financial Group UT bought a new position in shares of Coupang during the 2nd quarter worth about $30,000. Grove Bank & Trust bought a new position in shares of Coupang during the 1st quarter worth about $33,000. Finally, Brooklyn Investment Group lifted its holdings in shares of Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock worth $37,000 after acquiring an additional 506 shares during the period. 83.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CPNG shares. Zacks Research cut shares of Coupang from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. 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 research report on Wednesday, August 6th. Nomura Securities upgraded shares of Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Finally, Arete Research started coverage on shares of Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.50.

Coupang Trading Down 3.7%

CPNG opened at $31.26 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $56.98 billion, a PE ratio of 156.28 and a beta of 1.18. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08. The firm has a 50-day moving average price of $30.49 and a two-hundred day moving average price of $28.00.

Coupang (NYSE:CPNG) last posted its quarterly earnings data 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 company had revenue of $8.52 billion during 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 was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. As a group, equities analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Harold Rogers sold 64,755 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the completion of the sale, the insider owned 449,569 shares of the company’s stock, valued at $14,413,182.14. The trade was a 12.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 988,983 shares of company stock worth $31,203,966. 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.