Coupang, Inc. $CPNG Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its position in shares of Coupang, Inc. (NYSE:CPNG) by 41.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,264 shares of the company’s stock after selling 5,906 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Coupang were worth $248,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of Coupang in the 1st quarter valued at $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Coupang during the first quarter valued at $30,000. Albion Financial Group UT purchased a new position in Coupang in the second quarter valued at $30,000. Brooklyn Investment Group raised its position in shares of Coupang by 43.1% in the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock worth $37,000 after acquiring an additional 506 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Coupang by 600.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company’s stock worth $55,000 after acquiring an additional 2,149 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Price Performance

NYSE:CPNG opened at $31.20 on Friday. The stock has a 50 day moving average of $31.10 and a two-hundred day moving average of $28.61. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $34.08. The firm has a market cap of $56.87 billion, a P/E ratio of 155.98 and a beta of 1.18. 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 issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $8.34 billion. During the same period in the prior year, the firm earned $0.07 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. On average, analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Arete assumed coverage on Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a research report on Friday. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a research report on Wednesday, August 6th. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, August 6th. Finally, Zacks Research cut shares of Coupang from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.50.

Insiders Place Their Bets

In related news, CFO Gaurav Anand sold 75,350 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the sale, the chief financial officer owned 2,016,940 shares of the company’s stock, valued at approximately $56,050,762.60. This represents a 3.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin Sun sold 815,797 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the transaction, the director directly owned 503,624 shares in the company, valued at $16,055,533.12. This trade represents a 61.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 988,983 shares of company stock valued at $31,203,966. Corporate insiders own 12.78% 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.