Great Lakes Advisors LLC Cuts Stock Position in Coupang, Inc. $CPNG

Great Lakes Advisors LLC decreased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 71.1% during the third quarter, Holdings Channel.com reports. The firm owned 14,368 shares of the company’s stock after selling 35,292 shares during the period. Great Lakes Advisors LLC’s holdings in Coupang were worth $463,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CPNG. Janney Montgomery Scott LLC bought a new position in shares of Coupang in the 2nd quarter valued at about $227,000. Ameritas Advisory Services LLC bought a new stake in shares of Coupang in the 2nd quarter valued at approximately $58,000. DAVENPORT & Co LLC purchased a new position in shares of Coupang in the 2nd quarter worth approximately $470,000. Joel Isaacson & Co. LLC purchased a new position in shares of Coupang in the 2nd quarter worth approximately $298,000. Finally, Maryland State Retirement & Pension System increased its position in shares of Coupang by 11.5% during the 2nd quarter. Maryland State Retirement & Pension System now owns 60,346 shares of the company’s stock valued at $1,808,000 after purchasing an additional 6,208 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CPNG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, January 16th. Mizuho raised their target price on shares of Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Bank of America upped their price target on shares of Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Nomura lowered shares of Coupang from a “buy” rating to a “neutral” rating and set a $22.00 price objective on the stock. in a research report on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Coupang in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and an average price target of $32.57.

Coupang Trading Down 0.7%

CPNG stock opened at $20.02 on Tuesday. Coupang, Inc. has a 12 month low of $18.55 and a 12 month high of $34.08. The firm’s 50-day moving average is $23.44 and its 200 day moving average is $27.90. The company has a market capitalization of $36.56 billion, a PE ratio of 95.32 and a beta of 1.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 0.82.

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

Insider Activity

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

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.