Cetera Investment Advisers Grows Stake in Coupang, Inc. $CPNG

Cetera Investment Advisers raised its position in shares of Coupang, Inc. (NYSE:CPNG) by 8.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,969 shares of the company’s stock after purchasing an additional 7,363 shares during the period. Cetera Investment Advisers’ holdings in Coupang were worth $2,755,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC raised its holdings in shares of Coupang by 0.5% in the second quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock valued at $2,051,000 after acquiring an additional 363 shares in the last quarter. Inspirion Wealth Advisors LLC increased its position in Coupang by 0.3% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock valued at $4,024,000 after purchasing an additional 400 shares during the period. Thoroughbred Financial Services LLC raised its holdings in shares of Coupang by 1.4% in the 1st quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock valued at $646,000 after purchasing an additional 408 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its position in shares of Coupang by 4.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock worth $323,000 after purchasing an additional 461 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock valued at $37,000 after purchasing an additional 506 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Transactions at Coupang

In other Coupang news, insider Harold Rogers sold 64,755 shares of Coupang stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the completion of the sale, the insider owned 449,569 shares of the company’s stock, valued at approximately $14,413,182.14. The trade was a 12.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Pranam Kolari sold 11,653 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $31.98, for a total value of $372,662.94. Following the sale, the vice president owned 147,023 shares in the company, valued at approximately $4,701,795.54. The trade was a 7.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 913,633 shares of company stock worth $29,143,084. Insiders own 12.78% of the company’s stock.

Coupang Stock Up 0.6%

CPNG stock opened at $27.93 on Friday. The stock has a market capitalization of $51.01 billion, a PE ratio of 132.99 and a beta of 1.17. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $30.67 and a 200 day moving average of $29.73.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The business had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.13 billion. During the same quarter last year, the company posted $0.06 earnings per share. The business’s quarterly revenue was up 17.8% on a year-over-year basis. Sell-side analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CPNG. Nomura raised shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Arete assumed coverage on Coupang in a research note on Thursday, September 18th. They set a “buy” rating and a $40.00 price objective for the company. Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Coupang Company 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.