First Trust Direct Indexing L.P. Purchases Shares of 11,899 Coupang, Inc. (NYSE:CPNG)

First Trust Direct Indexing L.P. acquired a new position in Coupang, Inc. (NYSE:CPNG) during the 3rd quarter, Holdings Channel reports. The firm acquired 11,899 shares of the company’s stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Asset Dedication LLC grew its holdings in Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after purchasing an additional 990 shares during the period. Wolff Wiese Magana LLC increased its holdings in Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after acquiring an additional 1,295 shares in the last quarter. GAMMA Investing LLC raised its stake in Coupang by 308.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after acquiring an additional 1,470 shares during the period. Signaturefd LLC raised its stake in Coupang by 438.9% during the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after acquiring an additional 1,931 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in Coupang during the second quarter valued at approximately $74,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CPNG shares. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Monday, October 7th. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and increased their price target for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Coupang has an average rating of “Moderate Buy” and an average price target of $27.56.

Insiders Place Their Bets

In other news, Director Greenoaks Capital Partners Llc bought 251,300 shares of the stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $22.58 per share, for a total transaction of $5,674,354.00. Following the transaction, the director now owns 50,126,224 shares of the company’s stock, valued at $1,131,850,137.92. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Coupang news, Director Greenoaks Capital Partners Llc purchased 251,300 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $22.58 per share, with a total value of $5,674,354.00. Following the acquisition, the director now owns 50,126,224 shares in the company, valued at approximately $1,131,850,137.92. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin Sun sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.36, for a total value of $4,672,000.00. Following the sale, the director now directly owns 1,969,421 shares in the company, valued at $46,005,674.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 601,300 shares of company stock valued at $13,604,354 and have sold 400,956 shares valued at $9,245,164. Corporate insiders own 13.60% of the company’s stock.

Coupang Stock Performance

Shares of NYSE CPNG opened at $25.70 on Tuesday. The firm’s fifty day moving average is $24.45 and its two-hundred day moving average is $22.75. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $26.44. The company has a market cap of $46.10 billion, a P/E ratio of 44.31 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The company 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 firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 earnings per share. As a group, analysts anticipate 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.