Rockefeller Capital Management L.P. Boosts Stock Position in Coupang, Inc. $CPNG

Rockefeller Capital Management L.P. increased its holdings in Coupang, Inc. (NYSE:CPNG) by 436.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,636 shares of the company’s stock after purchasing an additional 94,913 shares during the period. Rockefeller Capital Management L.P.’s holdings in Coupang were worth $3,494,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Albion Financial Group UT purchased a new position in shares of Coupang in the 2nd quarter worth $30,000. SVB Wealth LLC bought a new position in shares of Coupang in the 1st quarter valued at about $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Coupang in the first quarter worth about $30,000. Brooklyn Investment Group increased its stake in Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock worth $37,000 after acquiring an additional 506 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Coupang during the second quarter worth approximately $58,000. Institutional investors own 83.72% of the company’s stock.

Insider Activity at Coupang

In related news, Director Pedro Franceschi sold 21,428 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Pranam Kolari sold 11,653 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $31.98, for a total value of $372,662.94. Following the transaction, the vice president owned 147,023 shares in the company, valued at $4,701,795.54. The trade was a 7.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 913,633 shares of company stock valued at $29,143,084. 12.78% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of recent research reports. Mizuho lifted their target price on Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Arete Research started coverage on shares of Coupang in a research note on Thursday, September 18th. They set a “buy” rating and a $40.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Coupang from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Arete assumed coverage on shares of Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. One equities research 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’s stock. According to data from MarketBeat, Coupang has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Coupang Stock Up 0.3%

NYSE:CPNG opened at $26.65 on Friday. The company has a market cap of $48.68 billion, a price-to-earnings ratio of 126.91 and a beta of 1.17. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $34.08. 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 stock has a fifty day simple moving average of $31.12 and a 200-day simple moving average of $29.71.

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