Ironsides Asset Advisors LLC Raises Position in Coupang, Inc. (NYSE:CPNG)

Ironsides Asset Advisors LLC increased its position in shares of Coupang, Inc. (NYSE:CPNG) by 36.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,156 shares of the company’s stock after purchasing an additional 5,378 shares during the period. Ironsides Asset Advisors LLC’s holdings in Coupang were worth $495,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in shares of Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after buying an additional 484 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in shares of Coupang by 5.7% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock valued at $219,000 after purchasing an additional 567 shares in the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of Coupang by 6.0% in the second quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock valued at $235,000 after purchasing an additional 635 shares during the period. National Bank of Canada FI boosted its holdings in Coupang by 15.4% during the second quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock worth $141,000 after buying an additional 890 shares in the last quarter. Finally, Asset Dedication LLC grew its position in Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after buying an additional 990 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

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

Coupang Stock Down 10.7 %

Shares of NYSE:CPNG opened at $24.01 on Thursday. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $26.91. The company has a market capitalization of $43.06 billion, a P/E ratio of 41.39 and a beta of 1.10. The stock’s fifty day simple moving average is $24.53 and its 200-day simple moving average is $22.79. 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 posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The company had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter in the previous year, the business earned $0.05 EPS. The firm’s revenue was up 27.2% on a year-over-year basis. As a group, equities research analysts forecast that Coupang, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In related news, Director Greenoaks Capital Partners Llc bought 251,300 shares of the stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $22.58 per share, for a total transaction of $5,674,354.00. Following the completion of the purchase, the director now owns 50,126,224 shares in the company, valued at $1,131,850,137.92. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Benjamin Sun sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the completion of the sale, the director now owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greenoaks Capital Partners Llc acquired 251,300 shares of Coupang stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $22.58 per share, for a total transaction of $5,674,354.00. Following the completion of the purchase, the director now directly owns 50,126,224 shares in the company, valued at $1,131,850,137.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 601,300 shares of company stock worth $13,604,354 and sold 400,956 shares worth $9,245,164. Insiders own 13.60% of the company’s stock.

Coupang Company Profile

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.