Ignite Planners LLC Sells 2,010 Shares of Coupang, Inc. $CPNG

Ignite Planners LLC decreased its holdings in Coupang, Inc. (NYSE:CPNG) by 9.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,550 shares of the company’s stock after selling 2,010 shares during the quarter. Ignite Planners LLC’s holdings in Coupang were worth $584,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CPNG. Dodge & Cox lifted its holdings in Coupang by 101.6% in the first quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock valued at $894,413,000 after buying an additional 20,555,600 shares during the period. GQG Partners LLC acquired a new position in Coupang in the first quarter valued at $168,127,000. Massachusetts Financial Services Co. MA lifted its holdings in Coupang by 436.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company’s stock valued at $190,497,000 after buying an additional 7,067,830 shares during the period. Nuveen LLC acquired a new position in Coupang in the first quarter valued at $75,775,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Coupang by 204.7% in the first quarter. Assenagon Asset Management S.A. now owns 3,352,002 shares of the company’s stock valued at $73,509,000 after buying an additional 2,251,819 shares during the period. Institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Shares of NYSE CPNG opened at $32.18 on Thursday. The firm’s 50-day moving average price is $30.38 and its 200-day moving average price is $27.82. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08. The firm has a market capitalization of $58.67 billion, a P/E ratio of 160.91 and a beta of 1.18. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). The company had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. Coupang’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 EPS. Equities research analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a report on Wednesday. Nomura upgraded shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, August 6th. Nomura Securities upgraded shares of Coupang to a “strong-buy” rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Arete began coverage on shares of Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.50.

Insider Activity at Coupang

In other news, VP Pranam Kolari sold 11,653 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $29.14, for a total transaction of $339,568.42. Following the completion of the sale, the vice president directly owned 158,676 shares of the company’s stock, valued at $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Pedro Franceschi sold 21,428 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.05, for a total transaction of $686,767.40. The disclosure for this sale can be found here. Insiders sold a total of 988,983 shares of company stock valued at $31,203,966 over the last quarter. 12.78% of the stock is currently owned by company insiders.

About Coupang

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.