Salem Investment Counselors Inc. Sells 27,455 Shares of Coupang, Inc. $CPNG

Salem Investment Counselors Inc. lessened its stake in shares of Coupang, Inc. (NYSE:CPNG) by 31.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 61,240 shares of the company’s stock after selling 27,455 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Coupang were worth $1,445,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Creative Planning boosted its stake in Coupang by 24.1% during the second quarter. Creative Planning now owns 22,158 shares of the company’s stock worth $664,000 after buying an additional 4,308 shares during the period. Cetera Investment Advisers raised its stake in shares of Coupang by 8.7% in the second quarter. Cetera Investment Advisers now owns 91,969 shares of the company’s stock valued at $2,755,000 after acquiring an additional 7,363 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Coupang by 30.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 3,186 shares of the company’s stock worth $95,000 after acquiring an additional 737 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Coupang by 10.2% in the 2nd quarter. Legal & General Group Plc now owns 3,789,239 shares of the company’s stock worth $113,521,000 after acquiring an additional 351,047 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Coupang by 291.2% during the 2nd quarter. American Century Companies Inc. now owns 4,343,079 shares of the company’s stock worth $130,119,000 after purchasing an additional 3,233,004 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Sanford C. Bernstein reiterated an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, January 16th. Weiss Ratings cut Coupang from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Citigroup reduced their price target on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Wall Street Zen lowered Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Coupang has an average rating of “Hold” and an average target price of $26.70.

Coupang Trading Down 4.1%

CPNG stock opened at $18.51 on Wednesday. Coupang, Inc. has a 12 month low of $16.74 and a 12 month high of $34.08. The firm’s 50-day moving average is $19.15 and its 200 day moving average is $25.27. The company has a market capitalization of $33.85 billion, a PE ratio of 154.29 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 0.79.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Coupang had a net margin of 0.60% and a return on equity of 4.52%. Coupang’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. On average, research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Activity at Coupang

In other news, Director Neil Mehta bought 2,332,863 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $18.40 per share, with a total value of $42,924,679.20. Following the transaction, the director directly owned 55,310,977 shares in the company, valued at approximately $1,017,721,976.80. This trade represents a 4.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jonathan D. Lee sold 2,679 shares of Coupang stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $23.62, for a total value of $63,277.98. Following the sale, the chief accounting officer directly owned 122,096 shares of the company’s stock, valued at approximately $2,883,907.52. This trade represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have bought 7,350,104 shares of company stock valued at $136,566,051 in the last ninety days. Insiders own 12.78% of the company’s stock.

Coupang Company 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.