Frank Rimerman Advisors LLC Acquires 9,047 Shares of Coupang, Inc. $CPNG

Frank Rimerman Advisors LLC raised its holdings in Coupang, Inc. (NYSE:CPNG) by 38.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,679 shares of the company’s stock after buying an additional 9,047 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Coupang were worth $979,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Altimeter Capital Management LP boosted its stake in Coupang by 24.3% during the first quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company’s stock worth $163,191,000 after acquiring an additional 1,455,555 shares in the last quarter. Bain Capital Public Equity Management II LLC increased its stake in Coupang by 39.4% in the first quarter. Bain Capital Public Equity Management II LLC now owns 1,467,232 shares of the company’s stock valued at $32,176,000 after purchasing an additional 414,901 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Coupang by 460.8% during the first quarter. Dark Forest Capital Management LP now owns 185,182 shares of the company’s stock valued at $4,061,000 after purchasing an additional 152,161 shares during the period. Raymond James Financial Inc. raised its holdings in shares of Coupang by 20.0% during the first quarter. Raymond James Financial Inc. now owns 1,320,777 shares of the company’s stock valued at $28,965,000 after purchasing an additional 220,513 shares during the period. Finally, 3G Capital Partners LP boosted its position in shares of Coupang by 12.5% during the 1st quarter. 3G Capital Partners LP now owns 1,350,000 shares of the company’s stock worth $29,606,000 after purchasing an additional 150,000 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insiders Place Their Bets

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Pranam Kolari sold 11,653 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $31.98, for a total value of $372,662.94. Following the completion of the transaction, the vice president owned 147,023 shares of the company’s stock, valued at $4,701,795.54. This trade represents a 7.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 913,633 shares of company stock valued at $29,143,084. 12.78% of the stock is owned by insiders.

Coupang Stock Down 0.6%

Coupang stock opened at $27.65 on Wednesday. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06. The firm’s 50-day simple moving average is $31.45 and its 200 day simple moving average is $29.69. The stock has a market cap of $50.51 billion, a PE ratio of 131.69 and a beta of 1.17.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The firm had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.13 billion. During the same quarter last year, the firm earned $0.06 EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. Research analysts predict that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

CPNG has been the topic of several recent research reports. Mizuho increased their price target on Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Morgan Stanley upped their target price on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Arete Research initiated coverage on shares of Coupang in a research report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target for the company. Zacks Research upgraded shares of Coupang from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

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.