Ensign Peak Advisors Inc Sells 35,132 Shares of Coupang, Inc. (NYSE:CPNG)

Ensign Peak Advisors Inc cut its stake in shares of Coupang, Inc. (NYSE:CPNG) by 4.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 775,840 shares of the company’s stock after selling 35,132 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Coupang were worth $16,254,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CPNG. WCM Investment Management LLC lifted its position in shares of Coupang by 2,250.9% during the 1st quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock valued at $799,242,000 after buying an additional 43,015,433 shares in the last quarter. Baillie Gifford & Co. raised its stake in Coupang by 15.9% during the 1st quarter. Baillie Gifford & Co. now owns 168,600,998 shares of the company’s stock worth $2,999,412,000 after acquiring an additional 23,076,870 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Coupang by 31.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock valued at $1,403,015,000 after purchasing an additional 18,894,909 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Coupang by 2,570.0% in the second quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock worth $42,931,000 after purchasing an additional 1,972,476 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Coupang by 55.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after purchasing an additional 1,615,448 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Up 0.9 %

Shares of Coupang stock opened at $24.79 on Tuesday. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $24.84. 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 business has a 50-day moving average price of $22.08 and a 200-day moving average price of $21.38. The firm has a market cap of $44.32 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 171.76 and a beta of 1.10.

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, topping analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $7.32 billion for 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 revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. Equities research analysts anticipate that Coupang, Inc. will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Coupang news, Director Benjamin Sun sold 200,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the completion of the transaction, the director now owns 1,969,421 shares in the company, valued at $46,005,674.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Greenoaks Capital Partners Llc bought 150,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $22.64 per share, for a total transaction of $3,396,000.00. Following the acquisition, the director now owns 49,874,924 shares in the company, valued at $1,129,168,279.36. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Benjamin Sun sold 200,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.36, for a total value of $4,672,000.00. Following the sale, the director now owns 1,969,421 shares in the company, valued at approximately $46,005,674.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 601,300 shares of company stock worth $13,604,354 and have sold 410,432 shares worth $9,429,597. 13.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CPNG shares. Morgan Stanley lifted their target price 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. CLSA raised 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 note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.25.

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.