Connable Office Inc. Buys Shares of 49,337 Coupang, Inc. (NYSE:CPNG)

Connable Office Inc. purchased a new stake in Coupang, Inc. (NYSE:CPNG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 49,337 shares of the company’s stock, valued at approximately $1,034,000.

Other institutional investors also recently modified their holdings of the company. Baader Bank Aktiengesellschaft grew its stake in shares of Coupang by 5.7% during the second quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock worth $219,000 after buying an additional 567 shares during the last quarter. Resonant Capital Advisors LLC grew its position in Coupang by 6.0% during the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock worth $235,000 after acquiring an additional 635 shares during the last quarter. Private Advisor Group LLC increased its holdings in Coupang by 1.6% in the 4th quarter. Private Advisor Group LLC now owns 47,052 shares of the company’s stock worth $762,000 after purchasing an additional 760 shares in the last quarter. Global Retirement Partners LLC raised its position in Coupang by 135.8% in the first quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock valued at $26,000 after purchasing an additional 827 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Coupang by 15.4% during the second quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock valued at $141,000 after purchasing an additional 890 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other Coupang news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the sale, the insider now owns 170,356 shares of the company’s stock, valued at $3,390,084.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Greenoaks Capital Partners Llc bought 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $22.64 per share, for a total transaction of $3,396,000.00. Following the acquisition, the director now directly owns 49,874,924 shares of the company’s stock, valued at approximately $1,129,168,279.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the completion of the transaction, the insider now directly owns 170,356 shares in the company, valued at $3,390,084.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 601,300 shares of company stock worth $13,604,354 and have sold 1,110,432 shares worth $23,870,597. Company insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CPNG. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and lifted their price target for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. Morgan Stanley lifted their target price on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Finally, UBS Group raised Coupang from a “neutral” rating to a “buy” rating and increased their price target for the company from $18.50 to $26.00 in a research note on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.25.

Coupang Stock Performance

NYSE CPNG opened at $22.11 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. The company has a fifty day moving average price of $21.59 and a 200-day moving average price of $20.96. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $23.99. The firm has a market cap of $39.66 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 161.35 and a beta of 1.10.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The business’s quarterly revenue was up 25.4% on a year-over-year basis. As a group, equities research analysts predict that Coupang, Inc. will post 0.14 EPS 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.