Hennion & Walsh Asset Management Inc. Purchases 9,480 Shares of Coupang, Inc. (NYSE:CPNG)

Hennion & Walsh Asset Management Inc. boosted its holdings in Coupang, Inc. (NYSE:CPNG) by 87.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,286 shares of the company’s stock after acquiring an additional 9,480 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Coupang were worth $361,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CPNG. O Shaughnessy Asset Management LLC boosted its holdings in shares of Coupang by 26.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 15,994 shares of the company’s stock valued at $272,000 after acquiring an additional 3,334 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Coupang in the third quarter worth approximately $4,081,000. Ameriprise Financial Inc. grew its position in Coupang by 25.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,054,223 shares of the company’s stock worth $51,922,000 after purchasing an additional 616,210 shares during the period. Royal London Asset Management Ltd. raised its stake in Coupang by 3.6% during the 3rd quarter. Royal London Asset Management Ltd. now owns 432,036 shares of the company’s stock valued at $7,342,000 after buying an additional 15,088 shares during the last quarter. Finally, Adalta Capital Management LLC lifted its holdings in shares of Coupang by 3.6% during the 3rd quarter. Adalta Capital Management LLC now owns 88,391 shares of the company’s stock valued at $1,503,000 after buying an additional 3,099 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Benjamin Sun sold 700,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $44,755,155.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Greenoaks Capital Partners Llc purchased 120,239 shares of Coupang stock in a transaction on Friday, May 10th. The shares were bought at an average cost of $22.53 per share, for a total transaction of $2,708,984.67. Following the acquisition, the director now owns 48,126,374 shares in the company, valued at approximately $1,084,287,206.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin Sun sold 700,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the transaction, the director now directly owns 2,169,421 shares of the company’s stock, valued at approximately $44,755,155.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 753,538 shares of company stock worth $15,662,818. 13.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CPNG shares. Bank of America assumed coverage on Coupang in a report on Friday, May 3rd. They issued a “buy” rating and a $30.00 price objective for the company. Morgan Stanley upped their price target on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. UBS Group upgraded shares of Coupang from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.50 to $26.00 in a research note on Thursday, May 16th. Citigroup boosted their target price on shares of Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Mizuho increased their price target on shares of Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.71.

Coupang Price Performance

Shares of NYSE:CPNG opened at $20.93 on Thursday. The company has a market capitalization of $37.41 billion, a P/E ratio of 29.89, a P/E/G ratio of 44.76 and a beta of 1.09. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $23.77. The firm’s 50 day simple moving average is $22.08 and its two-hundred day simple moving average is $18.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.15 and a quick ratio of 0.89.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coupang had a net margin of 4.96% and a return on equity of 13.59%. The firm had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $6.95 billion. During the same quarter last year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. Research analysts expect that Coupang, Inc. will post 0.03 EPS for the current fiscal year.

About Coupang

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.