Coupang, Inc. $CPNG Shares Purchased by Riggs Asset Managment Co. Inc.

Riggs Asset Managment Co. Inc. boosted its stake in shares of Coupang, Inc. (NYSE:CPNG) by 76,081.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,754 shares of the company’s stock after purchasing an additional 64,669 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in Coupang were worth $2,085,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CPNG. Orion Capital Management LLC purchased a new stake in shares of Coupang during the third quarter worth approximately $32,000. Hilltop National Bank purchased a new position in Coupang in the third quarter worth approximately $34,000. Fifth Third Bancorp grew its holdings in Coupang by 1,250.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after acquiring an additional 1,000 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Coupang in the 3rd quarter valued at approximately $40,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Coupang in the 2nd quarter valued at approximately $45,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CPNG. Weiss Ratings cut shares of Coupang from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Barclays increased their target price on Coupang from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Mizuho decreased their price target on Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Friday, January 16th. Finally, Nomura dropped their price objective on Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.70.

Coupang Trading Down 1.5%

Shares of Coupang stock opened at $19.08 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $20.09 and a 200-day simple moving average of $26.08. The stock has a market cap of $34.85 billion, a price-to-earnings ratio of 159.01 and a beta of 1.20. Coupang, Inc. has a 12-month low of $16.74 and a 12-month high of $34.08.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Coupang had a return on equity of 4.52% and a net margin of 0.60%.The company had revenue of $8.84 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the business earned $0.04 earnings per share. Coupang’s revenue was up 10.9% compared to the same quarter last year. On average, equities analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity at Coupang

In other news, CAO Jonathan D. Lee sold 2,679 shares of Coupang stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $23.62, for a total transaction of $63,277.98. Following the sale, the chief accounting officer owned 122,096 shares in the company, valued at approximately $2,883,907.52. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.78% of the company’s stock.

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.