Venturi Wealth Management LLC Raises Position in Coupang, Inc. (NYSE:CPNG)

Venturi Wealth Management LLC raised its position in shares of Coupang, Inc. (NYSE:CPNG) by 77.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,599 shares of the company’s stock after purchasing an additional 5,481 shares during the period. Venturi Wealth Management LLC’s holdings in Coupang were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Coupang by 31.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock worth $1,403,015,000 after acquiring an additional 18,894,909 shares during the period. Coronation Fund Managers Ltd. increased its stake in shares of Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after purchasing an additional 2,802,325 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after purchasing an additional 2,749,027 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Coupang by 2,570.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock valued at $42,931,000 after buying an additional 1,972,476 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Coupang by 55.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after buying an additional 1,615,448 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coupang

In other news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the company’s stock in a transaction on Monday, November 11th. The stock was purchased at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the completion of the purchase, the director now directly owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Coupang news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of Coupang stock in a transaction on Monday, November 11th. The shares were acquired at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the transaction, the director now directly owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the completion of the sale, the director now owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 1,637,700 shares of company stock valued at $39,101,316 over the last 90 days. 13.60% of the stock is owned by insiders.

Coupang Stock Performance

NYSE:CPNG opened at $24.51 on Wednesday. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $26.91. The company has a quick ratio of 0.87, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock has a market cap of $43.96 billion, a P/E ratio of 43.00 and a beta of 1.10. The business’s 50-day moving average price is $24.72 and its two-hundred day moving average price is $22.83.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. Coupang’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 earnings per share. As a group, equities analysts predict that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CPNG has been the topic of several recent research reports. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Monday, October 7th. CLSA raised Coupang from a “hold” rating to an “outperform” rating and increased their price objective for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Coupang currently has an average rating of “Moderate Buy” and a consensus target price of $27.56.

About Coupang

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.