43,461 Shares in Coupang, Inc. (NYSE:CPNG) Acquired by Sciencast Management LP

Sciencast Management LP acquired a new stake in Coupang, Inc. (NYSE:CPNG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 43,461 shares of the company’s stock, valued at approximately $773,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Global Retirement Partners LLC boosted its holdings in shares of Coupang by 135.8% in the first quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock valued at $26,000 after purchasing an additional 827 shares during the period. Headinvest LLC purchased a new stake in shares of Coupang in the 3rd quarter worth $29,000. Register Financial Advisors LLC bought a new position in shares of Coupang during the 1st quarter worth $50,000. Optimum Investment Advisors purchased a new position in shares of Coupang during the first quarter valued at $148,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Coupang by 27.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,528 shares of the company’s stock valued at $138,000 after acquiring an additional 1,821 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CPNG shares. UBS Group upgraded shares of Coupang from a “neutral” rating to a “buy” rating and increased their target price for the stock from $18.50 to $26.00 in a report on Thursday, May 16th. Mizuho boosted their price objective on shares of Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Citigroup increased their target price on Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Barclays boosted their price target on Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Finally, Bank of America initiated coverage on Coupang in a research report on Friday, May 3rd. They set a “buy” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.71.

Insider Buying and Selling

In related news, Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the transaction, the director now directly owns 2,169,421 shares of the company’s stock, valued at approximately $44,755,155.23. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Coupang news, Director Hanseung Kang sold 40,000 shares of Coupang stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $23.00, for a total transaction of $920,000.00. Following the completion of the sale, the director now directly owns 544,478 shares in the company, valued at approximately $12,522,994. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the completion of the sale, the director now directly owns 2,169,421 shares in the company, valued at $44,755,155.23. The disclosure for this sale can be found here. Insiders sold 753,538 shares of company stock worth $15,662,818 in the last three months. Corporate insiders own 13.60% of the company’s stock.

Coupang Stock Up 0.9 %

Shares of Coupang stock traded up $0.20 during trading on Friday, reaching $21.82. The company’s stock had a trading volume of 4,210,726 shares, compared to its average volume of 11,391,999. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $23.77. The company has a 50-day simple moving average of $21.89 and a two-hundred day simple moving average of $19.11. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.67. The company has a market cap of $39.01 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 45.66 and a beta of 1.09.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coupang had a return on equity of 13.59% and a net margin of 4.96%. The business had revenue of $7.11 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same period in the prior year, the business posted $0.05 EPS. Coupang’s revenue was up 22.6% compared to the same quarter last year. As a group, equities analysts forecast that Coupang, Inc. will post 0.03 earnings per share for the current year.

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.