Pekin Hardy Strauss Inc. Reduces Stake in Coupang, Inc. (NYSE:CPNG)

Pekin Hardy Strauss Inc. lessened its position in shares of Coupang, Inc. (NYSE:CPNG) by 20.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,000 shares of the company’s stock after selling 5,000 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Coupang were worth $466,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CPNG. Asset Dedication LLC increased its position in shares of Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after purchasing an additional 990 shares during the last quarter. Van ECK Associates Corp grew its position in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after buying an additional 484 shares during the period. GAMMA Investing LLC increased its holdings in Coupang by 308.2% during the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after buying an additional 1,470 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in Coupang by 330.4% during the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after buying an additional 1,295 shares during the last quarter. Finally, Signaturefd LLC raised its position in Coupang by 438.9% in the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after acquiring an additional 1,931 shares during the period. Institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

NYSE:CPNG opened at $24.32 on Monday. The business’s 50-day simple moving average is $24.99 and its two-hundred day simple moving average is $22.95. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91. The stock has a market cap of $43.75 billion, a PE ratio of 42.67, a P/E/G ratio of 216.02 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter last year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, analysts forecast that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CPNG. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Monday, October 7th. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and upped their price target for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Insider Transactions at Coupang

In related news, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the purchase, the director now owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. The trade was a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

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.