Klingman & Associates LLC Boosts Stock Holdings in Coupang, Inc. $CPNG

Klingman & Associates LLC raised its position in shares of Coupang, Inc. (NYSE:CPNG) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,999 shares of the company’s stock after purchasing an additional 2,764 shares during the period. Klingman & Associates LLC’s holdings in Coupang were worth $1,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its stake in shares of Coupang by 0.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock worth $2,051,000 after acquiring an additional 363 shares during the period. Inspirion Wealth Advisors LLC lifted its holdings in Coupang by 0.3% during the second quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock valued at $4,024,000 after purchasing an additional 400 shares during the last quarter. Thoroughbred Financial Services LLC boosted its position in Coupang by 1.4% during the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock worth $646,000 after purchasing an additional 408 shares during the period. Baader Bank Aktiengesellschaft increased its stake in shares of Coupang by 4.3% in the second quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock worth $323,000 after purchasing an additional 461 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its position in shares of Coupang by 4.2% in the first quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company’s stock valued at $258,000 after purchasing an additional 476 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Coupang Stock Performance

NYSE:CPNG opened at $31.70 on Tuesday. The company has a market capitalization of $57.79 billion, a price-to-earnings ratio of 158.51 and a beta of 1.18. The business has a 50 day moving average of $30.87 and a 200 day moving average of $28.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08.

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

Insider Buying and Selling

In other news, insider Harold Rogers sold 64,755 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the transaction, the insider directly owned 449,569 shares of the company’s stock, valued at approximately $14,413,182.14. This trade represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the completion of the transaction, the vice president owned 158,676 shares in the company, valued at approximately $4,623,818.64. This represents a 6.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 988,983 shares of company stock worth $31,203,966 over the last 90 days. Insiders own 12.78% of the company’s stock.

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of recent research reports. Nomura raised shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, August 6th. Nomura Securities raised shares of Coupang to a “strong-buy” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research note on Wednesday, August 6th. Finally, Morgan Stanley boosted their price target on shares of Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.50.

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.