Altfest L J & Co. Inc. Makes New $332,000 Investment in Coupang, Inc. (NYSE:CPNG)

Altfest L J & Co. Inc. purchased a new position in Coupang, Inc. (NYSE:CPNG) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,516 shares of the company’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Advisor Networks LLC increased its stake in Coupang by 2.7% in the 2nd quarter. Cetera Advisor Networks LLC now owns 22,462 shares of the company’s stock worth $391,000 after purchasing an additional 583 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Coupang by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 26,558 shares of the company’s stock valued at $462,000 after acquiring an additional 665 shares in the last quarter. CIBC Asset Management Inc grew its stake in Coupang by 2.3% during the 3rd quarter. CIBC Asset Management Inc now owns 39,502 shares of the company’s stock valued at $672,000 after acquiring an additional 899 shares in the last quarter. Fund Management at Engine No. 1 LLC grew its stake in Coupang by 7.9% during the 2nd quarter. Fund Management at Engine No. 1 LLC now owns 13,364 shares of the company’s stock valued at $233,000 after acquiring an additional 981 shares in the last quarter. Finally, Raymond James & Associates grew its stake in Coupang by 1.2% during the 4th quarter. Raymond James & Associates now owns 87,812 shares of the company’s stock valued at $1,422,000 after acquiring an additional 1,031 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CPNG. Barclays lifted their target price on Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and upped their price target for the company from $18.50 to $21.00 in a research report on Thursday, February 29th. TheStreet upgraded Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Citigroup lowered Coupang from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $17.00 in a research report on Tuesday, January 16th. Finally, UBS Group cut Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $18.50 in a report on Wednesday, December 20th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.07.

Insiders Place Their Bets

In other Coupang news, insider Harold Rogers sold 139,080 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $18.25, for a total transaction of $2,538,210.00. Following the completion of the transaction, the insider now owns 394,192 shares in the company, valued at approximately $7,194,004. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Harold Rogers sold 139,080 shares of Coupang stock in a transaction on Monday, March 18th. The shares were sold at an average price of $18.25, for a total value of $2,538,210.00. Following the completion of the sale, the insider now owns 394,192 shares in the company, valued at approximately $7,194,004. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tae Jung Kim sold 5,350 shares of Coupang stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $16.00, for a total transaction of $85,600.00. Following the completion of the sale, the insider now directly owns 248,240 shares of the company’s stock, valued at approximately $3,971,840. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,360,940 shares of company stock worth $633,529,579. 14.90% of the stock is currently owned by insiders.

Coupang Stock Performance

NYSE:CPNG opened at $17.79 on Friday. The stock has a fifty day moving average price of $16.50 and a 200-day moving average price of $16.57. The company has a market cap of $31.90 billion, a price-to-earnings ratio of 23.72 and a beta of 1.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $19.99.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the business earned $0.06 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities analysts anticipate that Coupang, Inc. will post 0.29 EPS for the current fiscal year.

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.