Great Lakes Advisors LLC Reduces Stake in Coupang, Inc. $CPNG

Great Lakes Advisors LLC lowered its position in Coupang, Inc. (NYSE:CPNG) by 71.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,368 shares of the company’s stock after selling 35,292 shares during the period. Great Lakes Advisors LLC’s holdings in Coupang were worth $463,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CPNG. Orion Capital Management LLC purchased a new stake in shares of Coupang during the 3rd quarter valued at about $32,000. Hilltop National Bank purchased a new position in shares of Coupang in the third quarter worth approximately $34,000. Root Financial Partners LLC bought a new stake in Coupang during the third quarter valued at approximately $40,000. Loomis Sayles & Co. L P purchased a new stake in Coupang during the second quarter valued at approximately $45,000. Finally, Hollencrest Capital Management increased its holdings in Coupang by 3,246.0% during the second quarter. Hollencrest Capital Management now owns 1,673 shares of the company’s stock valued at $50,000 after buying an additional 1,623 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 0.7%

Shares of CPNG stock opened at $20.02 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06. The stock has a fifty day simple moving average of $23.44 and a two-hundred day simple moving average of $27.90. The firm has a market capitalization of $36.56 billion, a PE ratio of 95.32 and a beta of 1.20. Coupang, Inc. has a 52-week low of $18.55 and a 52-week high of $34.08.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.13 billion. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. On average, analysts predict that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Coupang

In other news, CAO Jonathan D. Lee sold 2,679 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $23.62, for a total transaction of $63,277.98. Following the completion of the transaction, the chief accounting officer owned 122,096 shares in the company, valued at $2,883,907.52. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Barclays raised their target price on Coupang from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Mizuho boosted their price target on Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Morgan Stanley restated an “overweight” rating on shares of Coupang in a research report on Monday, January 5th. Finally, Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.57.

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.