Rubicon Global Capital Ltd Sells 105,000 Shares of Coupang, Inc. $CPNG

Rubicon Global Capital Ltd lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 10.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 893,390 shares of the company’s stock after selling 105,000 shares during the quarter. Coupang comprises approximately 6.4% of Rubicon Global Capital Ltd’s holdings, making the stock its 4th largest position. Rubicon Global Capital Ltd’s holdings in Coupang were worth $28,767,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Albion Financial Group UT bought a new stake in shares of Coupang during the second quarter valued at about $30,000. Hilltop National Bank acquired a new position in Coupang during the 3rd quarter valued at about $34,000. SVB Wealth LLC bought a new stake in shares of Coupang during the 1st quarter worth about $28,000. Loomis Sayles & Co. L P acquired a new stake in shares of Coupang in the 2nd quarter worth approximately $45,000. Finally, Hollencrest Capital Management lifted its stake in shares of Coupang by 3,246.0% in the 2nd quarter. Hollencrest Capital Management now owns 1,673 shares of the company’s stock worth $50,000 after acquiring an additional 1,623 shares during the period. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CPNG. Morgan Stanley reiterated an “overweight” rating and set a $31.00 price objective on shares of Coupang in a research note on Sunday, December 14th. Nomura decreased their price target on Coupang from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Barclays lifted their price target on Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Zacks Research upgraded Coupang from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.25.

Insider Activity at Coupang

In other news, 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 completion of the sale, 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 filing with the SEC, which is available at this link. 12.78% of the stock is currently owned by company insiders.

Coupang Price Performance

CPNG stock opened at $22.87 on Friday. Coupang, Inc. has a one year low of $19.02 and a one year high of $34.08. The firm has a 50-day moving average of $27.82 and a two-hundred day moving average of $29.37. The firm has a market capitalization of $41.78 billion, a PE ratio of 108.91 and a beta of 1.18. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.13 billion. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. On average, analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

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.