Coupang, Inc. $CPNG Shares Sold by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP cut its stake in Coupang, Inc. (NYSE:CPNG) by 12.9% in the second quarter, HoldingsChannel reports. The firm owned 208,412 shares of the company’s stock after selling 30,901 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Coupang were worth $6,244,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Dodge & Cox boosted its stake in shares of Coupang by 14.3% in the 2nd quarter. Dodge & Cox now owns 46,614,520 shares of the company’s stock valued at $1,396,571,000 after buying an additional 5,829,600 shares during the period. Norges Bank acquired a new stake in Coupang in the second quarter valued at approximately $587,186,000. Massachusetts Financial Services Co. MA lifted its stake in Coupang by 25.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,897,027 shares of the company’s stock worth $326,475,000 after acquiring an additional 2,210,447 shares during the last quarter. Geode Capital Management LLC grew its holdings in Coupang by 17.3% during the 2nd quarter. Geode Capital Management LLC now owns 7,877,160 shares of the company’s stock worth $236,000,000 after acquiring an additional 1,160,575 shares in the last quarter. Finally, GQG Partners LLC purchased a new stake in shares of Coupang in the 1st quarter valued at approximately $168,127,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Activity

In other news, VP Pranam Kolari sold 11,653 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $31.98, for a total transaction of $372,662.94. Following the sale, the vice president owned 147,023 shares in the company, valued at $4,701,795.54. This trade represents a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 913,633 shares of company stock worth $29,143,084 in the last three months. 12.78% of the stock is owned by insiders.

Coupang Stock Up 0.4%

CPNG stock opened at $27.13 on Monday. The company’s 50-day moving average price is $30.04 and its 200 day moving average price is $29.77. The company has a market cap of $49.56 billion, a P/E ratio of 129.20 and a beta of 1.18. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The firm had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.13 billion. During the same period last year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, research analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays lifted their price target on Coupang from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Zacks Research upgraded Coupang from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Bank of America increased their price target on shares of Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Finally, Arete Research started coverage on shares of Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.38.

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.