Sax Wealth Advisors LLC Reduces Stock Position in Coupang, Inc. (NYSE:CPNG)

Sax Wealth Advisors LLC trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,696 shares of the company’s stock after selling 1,329 shares during the period. Sax Wealth Advisors LLC’s holdings in Coupang were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in CPNG. FMR LLC lifted its stake in Coupang by 32.0% during the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after purchasing an additional 6,584,910 shares during the last quarter. Coronation Fund Managers Ltd. raised its holdings in Coupang by 139.1% during 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. Wellington Management Group LLP lifted its position in shares of Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock worth $211,868,000 after buying an additional 2,603,046 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Coupang by 762.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock valued at $68,710,000 after buying an additional 2,474,175 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Coupang by 2,570.0% in 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 during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc bought 687,700 shares of Coupang stock in a transaction on Monday, November 11th. The stock was bought at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the completion of the acquisition, the director now owns 52,726,423 shares in the company, valued at $1,269,652,265.84. The trade was a 1.32 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the transaction, the chief executive officer now directly owns 2,000,000 shares in the company, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CPNG. Citigroup decreased their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. 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 research report on Monday, October 7th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Coupang Trading Down 1.1 %

NYSE:CPNG opened at $22.09 on Friday. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock’s 50 day simple moving average is $23.50 and its 200-day simple moving average is $23.27. The firm has a market cap of $39.73 billion, a P/E ratio of 38.75, a PEG ratio of 34.64 and a beta of 1.10.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. Coupang’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. Equities analysts anticipate that Coupang, Inc. will post 0.11 EPS for the current year.

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.