Sumitomo Mitsui DS Asset Management Company Ltd Invests $213,000 in Coupang, Inc. $CPNG

Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Coupang, Inc. (NYSE:CPNG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,106 shares of the company’s stock, valued at approximately $213,000.

A number of other large investors have also recently bought and sold shares of the business. Pallas Capital Advisors LLC bought a new position in Coupang in the second quarter worth about $447,000. Inspirion Wealth Advisors LLC lifted its holdings in Coupang by 0.3% in the second quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock worth $4,024,000 after acquiring an additional 400 shares during the last quarter. Triumph Capital Management lifted its holdings in Coupang by 251.3% in the second quarter. Triumph Capital Management now owns 34,556 shares of the company’s stock worth $1,035,000 after acquiring an additional 24,718 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in Coupang by 170,340.0% in the second quarter. Salem Investment Counselors Inc. now owns 85,220 shares of the company’s stock worth $2,553,000 after acquiring an additional 85,170 shares during the last quarter. Finally, Harbor Investment Advisory LLC bought a new position in Coupang in the second quarter worth about $174,000. Institutional investors own 83.72% of the company’s stock.

Insider Transactions at Coupang

In other Coupang news, VP Pranam Kolari sold 11,653 shares of Coupang 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 transaction, the vice president owned 158,676 shares in the company, valued at approximately $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the transaction, the chief financial officer directly owned 2,016,940 shares of the company’s stock, valued at $56,050,762.60. This represents a 3.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 988,983 shares of company stock valued at $31,203,966 in the last 90 days. 12.78% of the stock is owned by corporate insiders.

Coupang Trading Down 1.7%

Coupang stock opened at $32.29 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market cap of $58.87 billion, a price-to-earnings ratio of 161.46 and a beta of 1.15. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08. The firm’s 50 day moving average price is $29.98 and its two-hundred day moving average price is $27.09.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CPNG shares. Arete started coverage on shares of Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 target price on the stock. Arete Research began coverage on shares of Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 target price on the stock. Wall Street Zen cut Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a report on Wednesday, August 6th. Finally, Nomura raised Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

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.