Coupang, Inc. $CPNG Stock Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. reduced its position in Coupang, Inc. (NYSE:CPNG) by 72.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,095 shares of the company’s stock after selling 56,985 shares during the period. Salem Investment Counselors Inc.’s holdings in Coupang were worth $306,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CPNG. Reflection Asset Management acquired a new position in shares of Coupang during the fourth quarter worth $28,000. Webster Bank N. A. grew its position in shares of Coupang by 325.8% during the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after buying an additional 1,300 shares in the last quarter. Osbon Capital Management LLC acquired a new stake in shares of Coupang during the fourth quarter worth approximately $45,000. Main Street Group LTD bought a new stake in shares of Coupang in the first quarter worth $40,000. Finally, Root Financial Partners LLC raised its stake in shares of Coupang by 68.5% in the 1st quarter. Root Financial Partners LLC now owns 2,265 shares of the company’s stock valued at $43,000 after purchasing an additional 921 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CPNG shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. Barclays reaffirmed an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a report on Tuesday, July 7th. Bank of America decreased their price objective on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Mizuho set a $22.00 target price on Coupang in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group set a $31.00 target price on Coupang in a report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Coupang currently has an average rating of “Hold” and an average price target of $24.06.

Coupang Trading Down 4.6%

NYSE:CPNG opened at $14.42 on Thursday. The stock has a market cap of $25.91 billion, a PE ratio of -33.53 and a beta of 1.17. Coupang, Inc. has a fifty-two week low of $13.35 and a fifty-two week high of $32.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. The stock’s 50-day moving average is $15.26 and its two-hundred day moving average is $16.86.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.18. The firm had revenue of $8.86 billion for the quarter, compared to the consensus estimate of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 earnings per share. As a group, equities research analysts forecast that Coupang, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Coupang

In other Coupang news, CAO Jonathan D. Lee sold 5,519 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $13.65, for a total value of $75,334.35. Following the completion of the sale, the chief accounting officer owned 176,396 shares of the company’s stock, valued at $2,407,805.40. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 740,931 shares in the company, valued at $11,988,263.58. The trade was a 20.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 203,148 shares of company stock worth $3,272,530 over the last three months. Company insiders own 12.83% of the company’s stock.

About Coupang

Coupang, Inc is an e-commerce and technology company that operates primarily in South Korea and Taiwan. The company connects consumers with a broad selection of merchandise, including groceries, household goods, electronics, apparel, beauty products and other everyday items. Its services are supported by an integrated logistics network designed to provide fast delivery and a convenient online shopping experience.

Coupang’s offerings include its Rocket Delivery and Rocket Fresh services, which provide rapid delivery of general merchandise and groceries, respectively.