Deepwater Asset Management LLC Lowers Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Deepwater Asset Management LLC lessened its stake in shares of Coupang, Inc. (NYSE:CPNG) by 16.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 664,920 shares of the company’s stock after selling 126,644 shares during the quarter. Coupang comprises about 5.1% of Deepwater Asset Management LLC’s portfolio, making the stock its 12th largest holding. Deepwater Asset Management LLC’s holdings in Coupang were worth $13,930,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CPNG. GAMMA Investing LLC raised its holdings in Coupang by 308.2% during the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after purchasing an additional 1,470 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of Coupang during the 1st quarter worth approximately $50,000. Opal Wealth Advisors LLC purchased a new position in shares of Coupang during the 2nd quarter worth approximately $74,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Coupang by 360.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,118 shares of the company’s stock valued at $86,000 after buying an additional 3,224 shares during the period. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Coupang in the second quarter valued at approximately $89,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

NYSE:CPNG opened at $24.58 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $43.95 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 171.76 and a beta of 1.10. The firm has a 50-day moving average price of $22.08 and a two-hundred day moving average price of $21.34. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $24.74.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. CLSA raised Coupang from a “hold” rating to an “outperform” rating and raised their target price for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. Morgan Stanley raised their price objective on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.25.

Insider Activity

In related news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the transaction, the insider now owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Benjamin Sun sold 200,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the sale, the director now owns 1,969,421 shares in the company, valued at $46,005,674.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the sale, the insider now directly owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 601,300 shares of company stock worth $13,604,354 and have sold 410,432 shares worth $9,429,597. Company insiders own 13.60% of the company’s stock.

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.