Coupang (NYSE:CPNG) Hits New 12-Month High After Better-Than-Expected Earnings

Shares of Coupang, Inc. (NYSE:CPNG) hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $26.59 and last traded at $26.53, with a volume of 3576961 shares changing hands. The stock had previously closed at $25.70.

The company reported $0.06 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 3.87% and a return on equity of 12.04%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPNG. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Monday, October 7th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and raised their target price for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Insider Transactions at Coupang

In related news, Director Greenoaks Capital Partners Llc purchased 150,000 shares of the stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $22.64 per share, for a total transaction of $3,396,000.00. Following the acquisition, the director now directly owns 49,874,924 shares in the company, valued at approximately $1,129,168,279.36. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Greenoaks Capital Partners Llc purchased 150,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $22.64 per share, with a total value of $3,396,000.00. Following the purchase, the director now owns 49,874,924 shares in the company, valued at $1,129,168,279.36. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gaurav Anand sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $22.75, for a total transaction of $4,550,000.00. Following the transaction, the chief financial officer now directly owns 1,937,500 shares in the company, valued at approximately $44,078,125. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 601,300 shares of company stock valued at $13,604,354 and sold 400,956 shares valued at $9,245,164. 13.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Coupang

Several hedge funds have recently bought and sold shares of the business. Asset Dedication LLC lifted its stake in shares of Coupang by 438.1% in the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after buying an additional 990 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after acquiring an additional 484 shares during the period. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 1,470 shares during the last quarter. Wolff Wiese Magana LLC grew its position in shares of Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after purchasing an additional 1,295 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Coupang by 438.9% in the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after purchasing an additional 1,931 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Up 4.6 %

The firm has a market cap of $45.02 billion, a price-to-earnings ratio of 43.16 and a beta of 1.10. The firm has a 50-day moving average of $24.57 and a two-hundred day moving average of $22.80. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72.

Coupang Company Profile

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.