Leavell Investment Management Inc. Increases Position in Coupang, Inc. $CPNG

Leavell Investment Management Inc. lifted its position in Coupang, Inc. (NYSE:CPNG) by 25.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,900 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Leavell Investment Management Inc.’s holdings in Coupang were worth $746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPNG. Altimeter Capital Management LP increased its holdings in shares of Coupang by 24.3% in the first quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company’s stock valued at $163,191,000 after purchasing an additional 1,455,555 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Coupang by 40.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company’s stock valued at $6,776,000 after buying an additional 87,412 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Coupang in the 1st quarter worth approximately $241,000. Bain Capital Public Equity Management II LLC raised its position in Coupang by 39.4% during the 1st quarter. Bain Capital Public Equity Management II LLC now owns 1,467,232 shares of the company’s stock worth $32,176,000 after buying an additional 414,901 shares during the last quarter. Finally, Dark Forest Capital Management LP raised its position in Coupang by 460.8% during the 1st quarter. Dark Forest Capital Management LP now owns 185,182 shares of the company’s stock worth $4,061,000 after buying an additional 152,161 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Performance

NYSE CPNG opened at $31.20 on Monday. The stock has a market capitalization of $56.87 billion, a price-to-earnings ratio of 155.98 and a beta of 1.18. The stock has a 50-day moving average of $31.10 and a 200 day moving average of $28.72. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $34.08.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The business had revenue of $8.52 billion during the quarter, compared to analysts’ expectations of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 earnings per share. Sell-side analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Coupang news, Director Benjamin Sun sold 815,797 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the transaction, the director directly owned 503,624 shares of the company’s stock, valued at $16,055,533.12. This trade represents a 61.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pedro Franceschi sold 21,428 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was 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 have sold 988,983 shares of company stock worth $31,203,966 in the last 90 days. 12.78% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Arete initiated coverage on shares of Coupang in a research note on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective on the stock. Wall Street Zen downgraded Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research note on Friday. Finally, Arete Research assumed coverage on Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Coupang has an average 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.