Penserra Capital Management LLC Sells 528,036 Shares of Coupang, Inc. $CPNG

Penserra Capital Management LLC lowered its stake in shares of Coupang, Inc. (NYSE:CPNG) by 92.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,586 shares of the company’s stock after selling 528,036 shares during the period. Penserra Capital Management LLC’s holdings in Coupang were worth $1,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. SVB Wealth LLC purchased a new stake in shares of Coupang during the 1st quarter worth $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Coupang in the first quarter valued at about $30,000. Albion Financial Group UT bought a new position in Coupang in the second quarter worth about $30,000. Brooklyn Investment Group lifted its position in shares of Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Coupang by 600.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company’s stock valued at $55,000 after buying an additional 2,149 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CPNG shares. Bank of America boosted their price objective on shares of Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen lowered shares of Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Morgan Stanley increased their price objective on Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Nomura Securities upgraded Coupang to a “strong-buy” rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.56.

Insider Buying and Selling at Coupang

In related news, VP Pranam Kolari sold 11,653 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $31.98, for a total transaction of $372,662.94. Following the completion of the transaction, the vice president owned 147,023 shares of the company’s stock, valued at $4,701,795.54. This trade represents a 7.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Harold Rogers sold 64,755 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the transaction, the insider owned 449,569 shares of the company’s stock, valued at $14,413,182.14. This represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In 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 insiders.

Coupang Price Performance

NYSE CPNG opened at $28.94 on Tuesday. The company has a market cap of $52.76 billion, a price-to-earnings ratio of 137.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 0.82. The stock’s fifty day moving average price is $31.62 and its 200 day moving average price is $29.49. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08.

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

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.