Salem Investment Counselors Inc. Buys 85,170 Shares of Coupang, Inc. $CPNG

Salem Investment Counselors Inc. raised its stake in shares of Coupang, Inc. (NYSE:CPNG) by 170,340.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,220 shares of the company’s stock after acquiring an additional 85,170 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Coupang were worth $2,553,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Harbor Investment Advisory LLC bought a new position in shares of Coupang during the second quarter valued at $174,000. Voya Investment Management LLC lifted its holdings in shares of Coupang by 5.2% during the first quarter. Voya Investment Management LLC now owns 593,615 shares of the company’s stock valued at $13,018,000 after acquiring an additional 29,436 shares during the period. Strs Ohio bought a new position in shares of Coupang during the first quarter valued at $6,929,000. Focus Partners Wealth bought a new position in shares of Coupang during the first quarter valued at $1,855,000. Finally, Bayforest Capital Ltd bought a new position in shares of Coupang during the first quarter valued at $181,000. 83.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CPNG. Morgan Stanley raised their target price on Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft lowered 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. Nomura upgraded 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. Nomura Securities upgraded Coupang to a “strong-buy” rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen lowered Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.14.

Insider Transactions at Coupang

In other Coupang news, CFO Gaurav Anand sold 75,350 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.79, for a total value of $2,093,976.50. Following the sale, the chief financial officer owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. The trade was a 3.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Pranam Kolari sold 11,653 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the transaction, the vice president directly owned 158,676 shares in the company, valued at $4,623,818.64. This trade represents a 6.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 988,983 shares of company stock worth $31,203,966. Corporate insiders own 12.78% of the company’s stock.

Coupang Stock Performance

NYSE CPNG opened at $32.45 on Friday. The stock has a market capitalization of $59.16 billion, a price-to-earnings ratio of 162.26 and a beta of 1.15. The stock’s 50 day moving average price is $29.62 and its two-hundred day moving average price is $26.66. 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, Inc. has a 52 week low of $19.02 and a 52 week high of $32.89.

Coupang (NYSE:CPNG) last released its 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 firm had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, analysts anticipate that Coupang, Inc. will post 0.17 earnings per share 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.