LPL Financial LLC Purchases 22,972 Shares of Coupang, Inc. $CPNG

LPL Financial LLC lifted its position in Coupang, Inc. (NYSE:CPNG) by 27.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,026 shares of the company’s stock after purchasing an additional 22,972 shares during the quarter. LPL Financial LLC’s holdings in Coupang were worth $2,325,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC lifted its holdings in Coupang by 7.7% during the 4th quarter. Cerity Partners LLC now owns 21,507 shares of the company’s stock valued at $512,000 after purchasing an additional 1,538 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in shares of Coupang during the fourth quarter worth approximately $439,000. Jump Financial LLC bought a new position in shares of Coupang in the fourth quarter valued at approximately $773,000. First Trust Advisors LP boosted its holdings in shares of Coupang by 51.8% in the 4th quarter. First Trust Advisors LP now owns 1,759,451 shares of the company’s stock worth $38,673,000 after acquiring an additional 600,353 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Coupang by 97.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,249,233 shares of the company’s stock worth $49,440,000 after acquiring an additional 1,107,659 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Coupang Price Performance

CPNG stock opened at $29.00 on Tuesday. The stock has a 50-day moving average price of $29.44 and a two-hundred day moving average price of $26.00. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $31.65. The stock has a market cap of $52.87 billion, a PE ratio of 145.01 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%. The firm had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.34 billion. During the same quarter in the previous year, the business posted $0.07 earnings per share. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. Equities analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Coupang

In other news, CFO Gaurav Anand sold 175,000 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the sale, the chief financial officer owned 2,092,290 shares in the company, valued at $58,814,271.90. This represents a 7.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Pranam Kolari sold 11,653 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $29.14, for a total value of $339,568.42. Following the completion of the sale, the vice president directly owned 158,676 shares of the company’s stock, valued at approximately $4,623,818.64. The trade was a 6.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,462,003 shares of company stock valued at $295,524,795. Corporate insiders own 12.78% of the company’s stock.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a report on Wednesday, August 6th. Nomura Securities upgraded shares of Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Barclays raised their price objective on shares of Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Wall Street Zen lowered shares of Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Nomura raised shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.57.

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.