Jessup Wealth Management Inc Acquires Shares of 22,050 Coupang, Inc. (NYSE:CPNG)

Jessup Wealth Management Inc purchased a new stake in Coupang, Inc. (NYSE:CPNG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,050 shares of the company’s stock, valued at approximately $541,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wedmont Private Capital bought a new position in Coupang in the 3rd quarter valued at about $1,818,000. CWM LLC lifted its holdings in Coupang by 31.8% during the 3rd quarter. CWM LLC now owns 177,743 shares of the company’s stock worth $4,364,000 after purchasing an additional 42,899 shares during the last quarter. Northwest Capital Management Inc acquired a new stake in Coupang during the 3rd quarter worth approximately $87,000. Handelsbanken Fonder AB grew its holdings in Coupang by 2.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock valued at $21,706,000 after buying an additional 24,553 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Coupang by 322.3% during the 3rd quarter. SG Americas Securities LLC now owns 35,359 shares of the company’s stock worth $868,000 after buying an additional 26,986 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Greenoaks Capital Partners Llc bought 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $22.95 per share, for a total transaction of $2,295,000.00. Following the completion of the acquisition, the director now directly owns 50,476,224 shares in the company, valued at approximately $1,158,429,340.80. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the sale, the insider now owns 170,356 shares in the company, valued at $3,390,084.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Greenoaks Capital Partners Llc purchased 100,000 shares of Coupang stock in a transaction on Wednesday, August 21st. The stock was bought at an average price of $22.95 per share, with a total value of $2,295,000.00. Following the completion of the acquisition, the director now directly owns 50,476,224 shares of the company’s stock, valued at approximately $1,158,429,340.80. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 601,300 shares of company stock valued at $13,604,354 and have sold 411,388 shares valued at $9,452,761. Insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CPNG. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and upped their price target for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Monday. Finally, Morgan Stanley boosted their price target on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.56.

Coupang Price Performance

Shares of NYSE CPNG traded up $0.08 during midday trading on Friday, reaching $25.61. 1,015,070 shares of the company were exchanged, compared to its average volume of 9,909,681. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.28. The stock has a market cap of $45.94 billion, a P/E ratio of 44.02, a PEG ratio of 282.07 and a beta of 1.11. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The stock’s 50-day moving average price is $23.33 and its 200-day moving average price is $21.96.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.39 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Coupang, Inc. will post 0.09 earnings per share for the current fiscal year.

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.