Wedmont Private Capital Buys 77,970 Shares of Coupang, Inc. $CPNG

Wedmont Private Capital increased its stake in shares of Coupang, Inc. (NYSE:CPNG) by 126.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,669 shares of the company’s stock after purchasing an additional 77,970 shares during the period. Wedmont Private Capital’s holdings in Coupang were worth $2,626,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its holdings in Coupang by 0.5% during the third quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock worth $2,533,000 after buying an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Coupang by 19.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock valued at $86,000 after acquiring an additional 597 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Coupang by 6.6% in the 3rd quarter. National Bank of Canada FI now owns 9,801 shares of the company’s stock valued at $316,000 after acquiring an additional 609 shares during the last quarter. Vise Technologies Inc. raised its position in shares of Coupang by 3.0% in the 4th quarter. Vise Technologies Inc. now owns 22,302 shares of the company’s stock valued at $526,000 after acquiring an additional 642 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in Coupang by 38.0% during the 4th quarter. Global Retirement Partners LLC now owns 2,677 shares of the company’s stock worth $63,000 after acquiring an additional 737 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Activity at Coupang

In other news, insider Harold Rogers sold 192,110 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the transaction, the insider directly owned 740,931 shares of the company’s stock, valued at $11,988,263.58. This trade represents a 20.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the completion of the sale, the chief accounting officer owned 181,915 shares in the company, valued at $2,928,831.50. This trade represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.83% of the company’s stock.

Coupang Price Performance

CPNG stock opened at $15.26 on Monday. The stock has a 50-day moving average price of $16.70 and a two-hundred day moving average price of $17.73. Coupang, Inc. has a 1 year low of $14.92 and a 1 year high of $34.08. The stock has a market cap of $27.43 billion, a PE ratio of -35.49 and a beta of 1.15. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.18. The company had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 earnings per share. Equities analysts forecast that Coupang, Inc. will post -0.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CPNG shares. CLSA assumed coverage on shares of Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price for the company. Barclays reiterated an “overweight” rating and set a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Mizuho set a $22.00 target price on Coupang in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and lowered their price target for the stock from $23.00 to $21.50 in a report on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Coupang in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Coupang currently has an average rating of “Hold” and an average target price of $25.39.

Coupang 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.