Coupang (NYSE:CPNG) Upgraded to “Buy” at Wall Street Zen

Coupang (NYSE:CPNG) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other equities analysts have also issued reports on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a research report on Wednesday, February 26th. Mizuho upgraded Coupang to a “hold” rating in a report on Friday, April 18th. Finally, Barclays boosted their price target on Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.64.

Coupang Stock Performance

Coupang stock opened at $28.49 on Friday. The stock’s 50 day moving average price is $25.98 and its 200 day moving average price is $24.01. The firm has a market capitalization of $51.73 billion, a PE ratio of 203.53 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.16. Coupang has a one year low of $18.16 and a one year high of $29.12.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a return on equity of 10.07% and a net margin of 0.82%. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. Coupang’s revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts expect that Coupang will post 0.17 EPS for the current fiscal year.

Insider Activity

In related news, Director Benjamin Sun sold 200,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the completion of the transaction, the director now directly owns 1,319,421 shares in the company, valued at $37,418,779.56. This represents a 13.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total value of $772,500,000.00. Following the transaction, the insider now owns 319,542,259 shares of the company’s stock, valued at approximately $8,228,213,169.25. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,459,697 shares of company stock worth $1,067,780,811. 12.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Thoroughbred Financial Services LLC grew its stake in shares of Coupang by 1.4% in the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock worth $646,000 after purchasing an additional 408 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Coupang by 0.5% in the fourth quarter. California State Teachers Retirement System now owns 85,489 shares of the company’s stock worth $1,879,000 after purchasing an additional 445 shares in the last quarter. Virtus ETF Advisers LLC grew its stake in shares of Coupang by 1.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company’s stock worth $975,000 after purchasing an additional 466 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Coupang by 3.8% in the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after purchasing an additional 469 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its stake in shares of Coupang by 4.2% in the first quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company’s stock worth $258,000 after purchasing an additional 476 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

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.