Burns Matteson Capital Management LLC Reduces Stock Position in Coupang, Inc. (NYSE:CPNG)

Burns Matteson Capital Management LLC cut its stake in Coupang, Inc. (NYSE:CPNG) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,362 shares of the company’s stock after selling 727 shares during the period. Burns Matteson Capital Management LLC’s holdings in Coupang were worth $475,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CPNG. GAMMA Investing LLC increased its holdings in Coupang by 308.2% in the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after buying an additional 1,470 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of Coupang during the 1st quarter worth approximately $50,000. Opal Wealth Advisors LLC purchased a new position in shares of Coupang during the 2nd quarter worth approximately $74,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Coupang by 360.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,118 shares of the company’s stock worth $86,000 after purchasing an additional 3,224 shares in the last quarter. Finally, Northwest Capital Management Inc purchased a new position in shares of Coupang during the 3rd quarter worth approximately $87,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Benjamin Sun sold 200,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were 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 directly owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coupang news, insider Pranam Kolari sold 10,432 shares of the business’s 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Benjamin Sun sold 200,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 1,969,421 shares in the company, valued at $46,005,674.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 601,300 shares of company stock valued at $13,604,354 and sold 411,388 shares valued at $9,452,761. 13.60% of the stock is owned by corporate insiders.

Coupang Trading Up 0.7 %

Shares of NYSE CPNG traded up $0.17 during trading on Friday, hitting $25.70. 7,503,292 shares of the company traded hands, compared to its average volume of 9,942,613. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.28. The company has a 50-day moving average price of $23.43 and a 200-day moving average price of $22.02. The firm has a market capitalization of $46.10 billion, a P/E ratio of 44.31, a P/E/G 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.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The company had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.39 billion. During the same period in the previous year, the company earned $0.08 EPS. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. On average, equities analysts predict that Coupang, Inc. will post 0.09 EPS for the current year.

Analyst Upgrades and Downgrades

CPNG has been the subject of a number of recent research reports. Morgan Stanley raised their price objective on shares of Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and raised their price objective for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. Finally, Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.