Capital Wealth Planning LLC Grows Position in Coupang, Inc. (NYSE:CPNG)

Capital Wealth Planning LLC increased its position in Coupang, Inc. (NYSE:CPNG) by 22.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,052 shares of the company’s stock after purchasing an additional 23,250 shares during the quarter. Capital Wealth Planning LLC’s holdings in Coupang were worth $2,641,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPNG. Panagora Asset Management Inc. increased its position in Coupang by 19.1% during the 4th quarter. Panagora Asset Management Inc. now owns 18,891 shares of the company’s stock valued at $306,000 after buying an additional 3,034 shares in the last quarter. Norges Bank bought a new position in Coupang during the 4th quarter valued at approximately $250,714,000. D.A. Davidson & CO. increased its position in Coupang by 12.5% during the 4th quarter. D.A. Davidson & CO. now owns 29,619 shares of the company’s stock valued at $480,000 after buying an additional 3,296 shares in the last quarter. BNP Paribas Asset Management Holding S.A. increased its position in Coupang by 176.7% during the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 62,255 shares of the company’s stock valued at $1,008,000 after buying an additional 39,754 shares in the last quarter. Finally, TCW Group Inc. bought a new position in Coupang during the 4th quarter valued at approximately $303,000. Institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Shares of Coupang stock opened at $23.95 on Monday. The stock’s 50-day simple moving average is $21.81 and its 200-day simple moving average is $21.19. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $24.35. The company has a market capitalization of $42.82 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 171.76 and a beta of 1.10. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The business had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.39 billion. During the same period in the previous year, the business earned $0.08 earnings per share. The business’s revenue was up 25.4% on a year-over-year basis. As a group, analysts expect that Coupang, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Greenoaks Capital Partners Llc bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average cost of $22.95 per share, for a total transaction of $2,295,000.00. Following the completion of the transaction, the director now owns 50,476,224 shares of the company’s stock, valued at $1,158,429,340.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Benjamin Sun sold 200,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $23.36, for a total value of $4,672,000.00. Following the sale, the director now directly owns 1,969,421 shares in the company, valued at $46,005,674.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Greenoaks Capital Partners Llc acquired 100,000 shares of Coupang stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $22.95 per share, for a total transaction of $2,295,000.00. Following the completion of the purchase, the director now directly owns 50,476,224 shares of the company’s stock, valued at $1,158,429,340.80. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 601,300 shares of company stock worth $13,604,354 and have sold 410,432 shares worth $9,429,597. 13.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on CPNG. Morgan Stanley lifted their target price on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. CLSA raised Coupang from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Coupang has a consensus rating of “Moderate Buy” and an average target price of $27.25.

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.