Ignite Planners LLC Increases Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Ignite Planners LLC lifted its stake in shares of Coupang, Inc. (NYSE:CPNG) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,959 shares of the company’s stock after buying an additional 1,316 shares during the quarter. Ignite Planners LLC’s holdings in Coupang were worth $363,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Private Advisor Group LLC grew its stake in Coupang by 1.6% during the 4th quarter. Private Advisor Group LLC now owns 47,052 shares of the company’s stock valued at $762,000 after purchasing an additional 760 shares in the last quarter. Raymond James & Associates grew its position in shares of Coupang by 1.2% in the 4th quarter. Raymond James & Associates now owns 87,812 shares of the company’s stock worth $1,422,000 after acquiring an additional 1,031 shares in the last quarter. Johnson Investment Counsel Inc. grew its position in shares of Coupang by 1.5% in the 4th quarter. Johnson Investment Counsel Inc. now owns 73,612 shares of the company’s stock worth $1,192,000 after acquiring an additional 1,080 shares in the last quarter. M&T Bank Corp grew its position in shares of Coupang by 1.0% in the 4th quarter. M&T Bank Corp now owns 143,550 shares of the company’s stock worth $2,324,000 after acquiring an additional 1,461 shares in the last quarter. Finally, Catalyst Private Wealth LLC grew its position in shares of Coupang by 4.3% in the 4th quarter. Catalyst Private Wealth LLC now owns 36,104 shares of the company’s stock worth $585,000 after acquiring an additional 1,496 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Stock Down 1.3 %

CPNG opened at $21.06 on Tuesday. Coupang, Inc. has a one year low of $13.51 and a one year high of $23.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 1.15. The stock’s fifty day moving average is $22.28 and its 200-day moving average is $18.65. The company has a market capitalization of $37.66 billion, a PE ratio of 30.09, a P/E/G ratio of 8.77 and a beta of 1.12.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $6.95 billion. Coupang had a return on equity of 13.59% and a net margin of 4.96%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 EPS. On average, equities analysts predict that Coupang, Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America started coverage on Coupang in a research report on Friday, May 3rd. They issued a “buy” rating and a $30.00 target price for the company. TheStreet upgraded Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Citigroup boosted their price objective on Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Barclays boosted their price objective on Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Finally, Mizuho lifted their target price on Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Coupang presently has an average rating of “Moderate Buy” and a consensus price target of $26.67.

Insider Buying and Selling

In related news, Director Benjamin Sun sold 700,000 shares of Coupang stock in a transaction on Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the transaction, the director now directly owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Pranam Kolari sold 2,048 shares of Coupang stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total transaction of $45,752.32. Following the transaction, the insider now owns 187,951 shares in the company, valued at $4,198,825.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Sun sold 700,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $20.63, for a total value of $14,441,000.00. Following the completion of the transaction, the director now owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The disclosure for this sale can be found here. Insiders have sold 753,538 shares of company stock worth $15,662,818 in the last three months. 13.60% of the stock is currently owned by insiders.

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.