Parsons Capital Management Inc. RI Buys 1,606 Shares of Coupang, Inc. (NYSE:CPNG)

Parsons Capital Management Inc. RI increased its stake in Coupang, Inc. (NYSE:CPNG) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 149,744 shares of the company’s stock after purchasing an additional 1,606 shares during the period. Parsons Capital Management Inc. RI’s holdings in Coupang were worth $3,291,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CPNG. Brooklyn Investment Group bought a new position in Coupang in the third quarter valued at about $28,000. Asset Dedication LLC grew its holdings in shares of Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after purchasing an additional 990 shares during the last quarter. Berbice Capital Management LLC bought a new stake in shares of Coupang during the fourth quarter worth about $31,000. Van ECK Associates Corp grew its holdings in shares of Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares during the last quarter. Finally, Wolff Wiese Magana LLC grew its holdings in shares of Coupang by 330.4% during the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after purchasing an additional 1,295 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

CPNG has been the topic of several research reports. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Monday, October 7th. Citigroup cut their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Price Performance

Shares of CPNG opened at $22.36 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $26.91. The business’s 50 day moving average price is $23.19 and its two-hundred day moving average price is $23.34. The firm has a market cap of $40.22 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 38.88 and a beta of 1.10.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same period in the prior year, the firm earned $0.05 earnings per share. Coupang’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities analysts anticipate that Coupang, Inc. will post 0.14 EPS for the current year.

Insider Transactions at Coupang

In related news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the completion of the acquisition, the director now owns 52,038,723 shares of the company’s stock, valued at $1,249,449,739.23. This represents a 1.46 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $22.97, for a total value of $344,550,000.00. Following the completion of the transaction, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at $45,940,000. This trade represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by insiders.

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.