Ethic Inc. Has $703,000 Position in Coupang, Inc. $CPNG

Ethic Inc. lowered its position in Coupang, Inc. (NYSE:CPNG) by 67.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,684 shares of the company’s stock after selling 64,667 shares during the quarter. Ethic Inc.’s holdings in Coupang were worth $703,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Coupang during the 1st quarter worth about $30,000. Grove Bank & Trust acquired a new stake in shares of Coupang during the 1st quarter worth about $33,000. Itau Unibanco Holding S.A. lifted its stake in shares of Coupang by 520.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock worth $43,000 after buying an additional 1,640 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company’s stock worth $53,000 after buying an additional 1,429 shares during the last quarter. Finally, BOCHK Asset Management Ltd acquired a new stake in shares of Coupang during the 1st quarter worth about $70,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Price Performance

NYSE:CPNG opened at $28.8150 on Thursday. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $31.65. The firm has a market cap of $52.53 billion, a price-to-earnings ratio of 144.08 and a beta of 1.16. The firm’s 50-day simple moving average is $29.47 and its 200 day simple moving average is $26.04. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.34 billion. During the same period in the prior year, the business posted $0.07 earnings per share. Coupang’s revenue was up 16.4% compared to the same quarter last year. As a group, sell-side analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Activity

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.25, for a total value of $282,500,000.00. Following the transaction, the insider directly owned 309,542,259 shares of the company’s stock, valued at $8,744,568,816.75. This trade represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin Sun sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the completion of the transaction, the director directly owned 1,319,421 shares in the company, valued at approximately $37,418,779.56. This represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,462,003 shares of company stock valued at $295,524,795 in the last 90 days. 12.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CPNG. Nomura upgraded shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, August 6th. Morgan Stanley raised their target price on shares of Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Barclays raised their price target on shares of Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.13.

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.