JT Stratford LLC Decreases Stake in Coupang, Inc. $CPNG

JT Stratford LLC reduced its position in shares of Coupang, Inc. (NYSE:CPNG) by 28.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,019 shares of the company’s stock after selling 24,600 shares during the period. JT Stratford LLC’s holdings in Coupang were worth $1,888,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dodge & Cox grew its stake in shares of Coupang by 101.6% in the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock worth $894,413,000 after buying an additional 20,555,600 shares during the last quarter. Norges Bank bought a new position in Coupang in the second quarter valued at about $587,186,000. Massachusetts Financial Services Co. MA increased its holdings in Coupang by 25.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,897,027 shares of the company’s stock valued at $326,475,000 after buying an additional 2,210,447 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Coupang by 17.3% in the 2nd quarter. Geode Capital Management LLC now owns 7,877,160 shares of the company’s stock worth $236,000,000 after purchasing an additional 1,160,575 shares in the last quarter. Finally, GQG Partners LLC bought a new position in shares of Coupang in the first quarter worth about $168,127,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America boosted their price objective on Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Mizuho raised their price objective on Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research report on Wednesday, August 6th. Arete Research initiated coverage on Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Coupang Stock Up 0.2%

CPNG stock opened at $26.70 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13. The company has a market cap of $48.78 billion, a price-to-earnings ratio of 127.16 and a beta of 1.18. The firm has a 50-day moving average of $30.35 and a two-hundred day moving average of $29.78. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $34.08.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The company had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.13 billion. During the same quarter last year, the company posted $0.06 EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. As a group, analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coupang news, Director Benjamin Sun sold 815,797 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director directly owned 503,624 shares in the company, valued at $16,055,533.12. The trade was a 61.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Harold Rogers sold 64,755 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.06, for a total value of $2,076,045.30. Following the completion of the transaction, the insider directly owned 449,569 shares of the company’s stock, valued at $14,413,182.14. This represents a 12.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 913,633 shares of company stock valued at $29,143,084. 12.78% of the stock is currently owned by company insiders.

Coupang Company Profile

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.