Coupang, Inc. $CPNG Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Coupang, Inc. (NYSE:CPNG) by 112.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,000 shares of the company’s stock after purchasing an additional 115,426 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Coupang were worth $7,020,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Coupang by 343.5% during the third quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after acquiring an additional 22,147,432 shares in the last quarter. Norges Bank purchased a new position in Coupang in the second quarter valued at about $587,186,000. Eminence Capital LP acquired a new stake in Coupang during the 2nd quarter valued at approximately $204,840,000. Dodge & Cox increased its holdings in Coupang by 14.3% during the 2nd quarter. Dodge & Cox now owns 46,614,520 shares of the company’s stock worth $1,396,571,000 after purchasing an additional 5,829,600 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Coupang by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,360,239 shares of the company’s stock valued at $190,553,000 after purchasing an additional 3,414,359 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling

In other news, CAO Jonathan D. Lee sold 2,679 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $23.62, for a total transaction of $63,277.98. Following the completion of the transaction, the chief accounting officer directly owned 122,096 shares of the company’s stock, valued at approximately $2,883,907.52. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.78% of the stock is currently owned by insiders.

Coupang Price Performance

Shares of NYSE:CPNG opened at $18.70 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 0.13. Coupang, Inc. has a fifty-two week low of $16.74 and a fifty-two week high of $34.08. The firm has a 50-day simple moving average of $20.91 and a 200 day simple moving average of $26.75. The company has a market cap of $34.15 billion, a PE ratio of 89.03 and a beta of 1.19.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CPNG. Barclays decreased their price target on shares of Coupang from $40.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley reissued an “overweight” rating on shares of Coupang in a research report on Monday, January 5th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Friday, January 16th. Bank of America boosted their price objective on Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Mizuho increased their target price on Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.70.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.