Steward Partners Investment Advisory LLC Buys 1,590 Shares of Coupang, Inc. (NYSE:CPNG)

Steward Partners Investment Advisory LLC increased its holdings in shares of Coupang, Inc. (NYSE:CPNGGet Rating) by 244.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,240 shares of the company’s stock after purchasing an additional 1,590 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Coupang were worth $40,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Coupang by 91.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 80,417 shares of the company’s stock worth $2,362,000 after purchasing an additional 38,315 shares during the period. CWM LLC acquired a new position in shares of Coupang in the 4th quarter valued at about $435,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Coupang by 2.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 28,332 shares of the company’s stock valued at $832,000 after buying an additional 665 shares during the period. Axiom Investment Management LLC acquired a new position in Coupang in the 4th quarter worth about $500,000. Finally, New York State Common Retirement Fund raised its holdings in shares of Coupang by 22.2% during the fourth quarter. New York State Common Retirement Fund now owns 822,526 shares of the company’s stock valued at $24,166,000 after acquiring an additional 149,349 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Insider Activity

In other Coupang news, Director Kevin M. Warsh bought 38,372 shares of Coupang stock in a transaction that occurred on Tuesday, May 17th. The stock was purchased at an average cost of $13.14 per share, for a total transaction of $504,208.08. Following the completion of the acquisition, the director now owns 359,034 shares of the company’s stock, valued at approximately $4,717,706.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Michael Parker sold 72,891 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $13.00, for a total transaction of $947,583.00. Following the transaction, the chief accounting officer now owns 38,575 shares in the company, valued at approximately $501,475. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kevin M. Warsh purchased 38,372 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were acquired at an average price of $13.14 per share, for a total transaction of $504,208.08. Following the purchase, the director now owns 359,034 shares in the company, valued at $4,717,706.76. The disclosure for this purchase can be found here. Insiders sold 193,100 shares of company stock worth $2,663,287 over the last three months.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Coupang from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $25.00 to $17.00 in a research report on Friday, May 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $37.00 price objective on shares of Coupang in a research note on Friday, April 8th. Credit Suisse Group upgraded Coupang from a “neutral” rating to an “outperform” rating and cut their price target for the company from $28.00 to $19.00 in a research note on Thursday, June 30th. Citigroup raised their price target on Coupang to $17.00 in a research note on Thursday, June 9th. Finally, Morgan Stanley began coverage on Coupang in a report on Wednesday, June 29th. They set an “overweight” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Coupang Stock Up 0.8 %

Shares of NYSE CPNG opened at $19.39 on Friday. The firm has a fifty day moving average of $14.49 and a 200-day moving average of $16.86. The company has a quick ratio of 0.91, a current ratio of 1.22 and a debt-to-equity ratio of 0.30. Coupang, Inc. has a 52-week low of $8.98 and a 52-week high of $40.38. The stock has a market capitalization of $34.17 billion, a PE ratio of -23.08 and a beta of 1.37.

Coupang (NYSE:CPNGGet Rating) last issued its quarterly earnings data on Wednesday, May 11th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.47. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.11 billion. Coupang had a negative net margin of 7.54% and a negative return on equity of 48.47%. During the same quarter in the previous year, the business posted ($0.68) EPS. On average, analysts anticipate that Coupang, Inc. will post -0.4 EPS for the current year.

About Coupang

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Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company sells various products and services in the categories of home goods and d├ęcor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.

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Institutional Ownership by Quarter for Coupang (NYSE:CPNG)

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