Financial Advocates Investment Management Sells 408 Shares of Coupang, Inc. (NYSE:CPNG)

Financial Advocates Investment Management lowered its stake in Coupang, Inc. (NYSE:CPNG) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,414 shares of the company’s stock after selling 408 shares during the quarter. Financial Advocates Investment Management’s holdings in Coupang were worth $452,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Asset Dedication LLC boosted its stake in Coupang by 438.1% in the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after purchasing an additional 990 shares during the period. Wolff Wiese Magana LLC lifted its holdings in shares of Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after purchasing an additional 1,295 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 1,470 shares during the period. Signaturefd LLC grew its holdings in shares of Coupang by 438.9% during the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after buying an additional 1,931 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in Coupang in the 2nd quarter valued at approximately $74,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Trading Down 1.5 %

NYSE CPNG opened at $25.40 on Friday. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $26.44. 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 stock has a 50 day moving average of $24.39 and a 200-day moving average of $22.73. The company has a market cap of $45.56 billion, a PE ratio of 43.79 and a beta of 1.11.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share. On average, equities research analysts anticipate that Coupang, Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CPNG. CLSA raised Coupang from a “hold” rating to an “outperform” rating and upped their price target for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Monday, October 7th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Insider Activity at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc purchased 150,000 shares of the stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $22.64 per share, with a total value of $3,396,000.00. Following the completion of the transaction, the director now directly owns 49,874,924 shares in the company, valued at $1,129,168,279.36. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Gaurav Anand sold 200,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $22.75, for a total value of $4,550,000.00. Following the transaction, the chief financial officer now directly owns 1,937,500 shares of the company’s stock, valued at $44,078,125. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greenoaks Capital Partners Llc bought 150,000 shares of Coupang stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $22.64 per share, with a total value of $3,396,000.00. Following the acquisition, the director now directly owns 49,874,924 shares in the company, valued at $1,129,168,279.36. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 601,300 shares of company stock worth $13,604,354 and sold 400,956 shares worth $9,245,164. 13.60% of the stock is currently owned by company insiders.

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.