Pekin Hardy Strauss Inc. Invests $503,000 in Coupang, Inc. (NYSE:CPNG)

Pekin Hardy Strauss Inc. acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,000 shares of the company’s stock, valued at approximately $503,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Baillie Gifford & Co. raised its stake in Coupang by 1.6% in the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock valued at $3,589,783,000 after acquiring an additional 2,749,027 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Coupang by 31.5% in the 1st 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 acquiring an additional 18,894,909 shares during the period. WCM Investment Management LLC raised its stake in Coupang by 2,250.9% in the 1st quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock valued at $799,242,000 after acquiring an additional 43,015,433 shares during the period. Norges Bank bought a new stake in Coupang in the 4th quarter valued at $250,714,000. Finally, Sands Capital Management LLC raised its stake in Coupang by 0.7% in the 4th quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock valued at $233,793,000 after acquiring an additional 98,043 shares during the period. Institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CPNG shares. Morgan Stanley increased their price target on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and increased their price target for the company 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.25.

Coupang Stock Up 1.2 %

CPNG stock opened at $24.24 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. The stock has a market capitalization of $43.34 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 171.76 and a beta of 1.10. The business’s fifty day moving average price is $21.92 and its two-hundred day moving average price is $21.26. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $24.38.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.08 EPS. On average, equities analysts anticipate that Coupang, Inc. will post 0.14 earnings per share for the current year.

Insider Transactions at Coupang

In related news, Director Greenoaks Capital Partners Llc bought 100,000 shares of Coupang stock in a transaction dated Wednesday, August 21st. The shares were bought at an average cost of $22.95 per share, with a total value of $2,295,000.00. Following the acquisition, the director now owns 50,476,224 shares in the company, valued at approximately $1,158,429,340.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Greenoaks Capital Partners Llc bought 100,000 shares of Coupang stock in a transaction dated Wednesday, August 21st. The shares were bought at an average cost of $22.95 per share, with a total value of $2,295,000.00. Following the acquisition, the director now owns 50,476,224 shares in the company, valued at approximately $1,158,429,340.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 disclosure for this sale can be found here. In the last three months, insiders have purchased 601,300 shares of company stock valued at $13,604,354 and have sold 410,432 shares valued at $9,429,597. 13.60% of the stock is currently owned by insiders.

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.