Coupang, Inc. $CPNG Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Coupang, Inc. (NYSE:CPNG) by 112.5% in the 3rd quarter, Holdings Channel reports. The fund owned 218,000 shares of the company’s stock after buying an additional 115,426 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Coupang were worth $7,020,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. NewEdge Wealth LLC grew its position in Coupang by 18.9% in the 3rd quarter. NewEdge Wealth LLC now owns 15,217 shares of the company’s stock worth $460,000 after purchasing an additional 2,421 shares during the last quarter. Long Walk Management LP raised its holdings in shares of Coupang by 16.4% during the third quarter. Long Walk Management LP now owns 2,935,000 shares of the company’s stock valued at $94,507,000 after buying an additional 413,375 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Coupang by 203.4% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 226,000 shares of the company’s stock worth $7,277,000 after buying an additional 151,500 shares during the period. Vanguard Group Inc. grew its holdings in Coupang by 343.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock worth $920,786,000 after buying an additional 22,147,432 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in Coupang by 1,250.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group set a $25.00 price target on Coupang in a research report on Thursday. Bank of America lifted their price objective 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. Mizuho increased their target price on shares of Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Morgan Stanley restated an “overweight” rating on shares of Coupang in a research report on Monday, January 5th. Finally, Sanford C. Bernstein began coverage on shares of Coupang in a report on Thursday, February 5th. They issued an “underperform” rating and a $17.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.70.

Insider Activity at Coupang

In related news, CAO Jonathan D. Lee sold 2,679 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $23.62, for a total value of $63,277.98. Following the sale, the chief accounting officer directly owned 122,096 shares in the company, valued at $2,883,907.52. The trade was a 2.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.78% of the stock is owned by insiders.

Coupang Price Performance

NYSE:CPNG opened at $18.70 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $20.91 and its 200 day moving average price is $26.75. Coupang, Inc. has a 52-week low of $16.74 and a 52-week high of $34.08. The firm has a market cap of $34.15 billion, a P/E ratio of 89.03 and a beta of 1.19.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.