Belpointe Asset Management LLC Has $754,000 Holdings in Coupang, Inc. (NYSE:CPNG)

Belpointe Asset Management LLC lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 115.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,004 shares of the company’s stock after purchasing an additional 19,319 shares during the quarter. Belpointe Asset Management LLC’s holdings in Coupang were worth $754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC increased its stake in Coupang by 135.8% during the 1st quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock worth $26,000 after acquiring an additional 827 shares during the period. GAMMA Investing LLC raised its stake in Coupang by 308.2% in the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after purchasing an additional 1,470 shares in the last quarter. Register Financial Advisors LLC acquired a new position in Coupang in the first quarter valued at about $50,000. Opal Wealth Advisors LLC acquired a new stake in Coupang during the second quarter worth about $74,000. Finally, V Square Quantitative Management LLC bought a new position in Coupang in the 2nd quarter valued at about $89,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Greenoaks Capital Partners Llc acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $22.95 per share, for a total transaction of $2,295,000.00. Following the completion of the acquisition, the director now directly owns 50,476,224 shares of the company’s stock, valued at approximately $1,158,429,340.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Greenoaks Capital Partners Llc bought 100,000 shares of Coupang stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $22.95 per share, for a total transaction of $2,295,000.00. Following the completion of the acquisition, the director now directly owns 50,476,224 shares of the company’s stock, valued at approximately $1,158,429,340.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin Sun sold 700,000 shares of the firm’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 transaction of $14,441,000.00. Following the transaction, the director now 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 acquired 601,300 shares of company stock valued at $13,604,354 and sold 1,110,432 shares valued at $23,870,597. Insiders own 13.60% of the company’s stock.

Coupang Price Performance

Shares of CPNG opened at $23.34 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The stock has a market cap of $41.73 billion, a PE ratio of 33.34, a PEG ratio of 877.23 and a beta of 1.09. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $23.99. The business has a 50-day simple moving average of $21.57 and a two-hundred day simple moving average of $20.85.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The company had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The firm’s revenue was up 25.4% compared to the same quarter last year. Analysts anticipate that Coupang, Inc. will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CPNG. UBS Group raised shares of Coupang from a “neutral” rating to a “buy” rating and upped their price target for the stock from $18.50 to $26.00 in a report on Thursday, May 16th. Morgan Stanley raised their target price on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Barclays boosted their price target on Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Finally, CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and upped their price objective for the stock from $18.00 to $31.00 in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coupang has an average rating of “Moderate Buy” and an average target price of $27.25.

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.