Parallel Advisors LLC Grows Stake in Coupang, Inc. (NYSE:CPNG)

Parallel Advisors LLC lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 37.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,468 shares of the company’s stock after acquiring an additional 674 shares during the quarter. Parallel Advisors LLC’s holdings in Coupang were worth $103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Montag A & Associates Inc. lifted its stake in shares of Coupang by 47.0% during the 2nd quarter. Montag A & Associates Inc. now owns 832 shares of the company’s stock valued at $35,000 after buying an additional 266 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in Coupang by 32.0% in the 2nd quarter. Arkadios Wealth Advisors now owns 1,650 shares of the company’s stock worth $69,000 after purchasing an additional 400 shares in the last quarter. Tradition Wealth Management LLC purchased a new stake in Coupang in the 1st quarter worth approximately $25,000. BDO Wealth Advisors LLC purchased a new stake in Coupang in the 1st quarter worth approximately $27,000. Finally, North Star Investment Management Corp. bought a new position in shares of Coupang in the 2nd quarter worth $25,000. Institutional investors own 70.20% of the company’s stock.

Shares of NYSE CPNG opened at $29.98 on Friday. The firm’s 50 day simple moving average is $35.89. Coupang, Inc. has a 12-month low of $28.96 and a 12-month high of $69.00.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, August 10th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.54 billion. On average, equities analysts predict that Coupang, Inc. will post -0.58 EPS for the current fiscal year.

Several research firms recently commented on CPNG. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating in a report on Thursday, August 12th. CLSA initiated coverage on shares of Coupang in a research report on Friday, July 9th. They set an “outperform” rating and a $46.00 price target for the company. Finally, Zacks Investment Research raised shares of Coupang from a “sell” rating to a “hold” rating in a research report on Wednesday, July 14th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.88.

In related news, CAO Michael Parker sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $32.86, for a total transaction of $1,643,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Thuan Pham sold 359,687 shares of the company’s stock in a transaction on Monday, August 16th. The shares were sold at an average price of $33.17, for a total transaction of $11,930,817.79. The disclosure for this sale can be found here. Insiders have sold 569,687 shares of company stock worth $18,906,618 in the last ninety days.

Coupang Company Profile

Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. 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.

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Institutional Ownership by Quarter for Coupang (NYSE:CPNG)

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