NewEdge Advisors LLC Sells 43,223 Shares of Coupang, Inc. $CPNG

NewEdge Advisors LLC trimmed its position in Coupang, Inc. (NYSE:CPNG) by 66.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,888 shares of the company’s stock after selling 43,223 shares during the quarter. NewEdge Advisors LLC’s holdings in Coupang were worth $413,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allen Capital Group LLC raised its holdings in shares of Coupang by 469.2% in the first quarter. Allen Capital Group LLC now owns 150,791 shares of the company’s stock valued at $2,847,000 after acquiring an additional 124,297 shares in the last quarter. Axiom Investment Management LLC purchased a new position in Coupang during the 1st quarter valued at about $502,000. Essential Partners LLC raised its holdings in shares of Coupang by 193.4% in the 1st quarter. Essential Partners LLC now owns 3,448 shares of the company’s stock valued at $65,000 after purchasing an additional 2,273 shares in the last quarter. RMR Capital Management LLC raised its holdings in shares of Coupang by 68.5% in the 1st quarter. RMR Capital Management LLC now owns 27,059 shares of the company’s stock valued at $511,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Western Wealth Management LLC bought a new stake in shares of Coupang in the 1st quarter valued at about $74,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coupang

In other Coupang news, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.10, for a total transaction of $88,855.90. Following the completion of the sale, the chief accounting officer owned 181,915 shares of the company’s stock, valued at approximately $2,928,831.50. The trade was a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the sale, the insider owned 740,931 shares in the company, valued at approximately $11,988,263.58. The trade was a 20.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 12.83% of the company’s stock.

Coupang Stock Up 1.1%

NYSE:CPNG opened at $16.44 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. Coupang, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08. The company has a market cap of $29.55 billion, a PE ratio of -38.23 and a beta of 1.13. The company’s 50 day moving average is $17.02 and its two-hundred day moving average is $17.87.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.18. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The business had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the company posted $0.02 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts anticipate that Coupang, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CPNG. Citigroup downgraded shares of Coupang from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $23.00 to $21.50 in a research note on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 target price on Coupang in a report on Thursday, July 9th. Barclays restated an “overweight” rating and set a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Coupang currently has a consensus rating of “Hold” and an average target price of $25.39.

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.