Janus Henderson Group PLC Sells 2,990,379 Shares of Coupang, Inc. $CPNG

Janus Henderson Group PLC lowered its position in shares of Coupang, Inc. (NYSE:CPNG) by 98.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,559 shares of the company’s stock after selling 2,990,379 shares during the period. Janus Henderson Group PLC’s holdings in Coupang were worth $747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CPNG. EverSource Wealth Advisors LLC grew its holdings in Coupang by 72.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock worth $99,000 after acquiring an additional 1,395 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Coupang by 52.8% in the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after purchasing an additional 8,107 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Coupang by 48.1% in the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after purchasing an additional 14,703 shares in the last quarter. State Street Corp lifted its position in shares of Coupang by 8.4% in the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock worth $468,628,000 after purchasing an additional 1,210,801 shares during the period. Finally, AXA S.A. purchased a new stake in shares of Coupang in the 2nd quarter worth approximately $411,000. 83.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CPNG shares. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and cut their price objective for the company from $23.00 to $21.50 in a report on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 target price on Coupang in a report on Thursday, July 9th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. CLSA initiated coverage on Coupang in a report on Monday, June 15th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a research report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.39.

Coupang Stock Down 0.3%

Coupang stock opened at $16.18 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. The stock has a market capitalization of $29.04 billion, a price-to-earnings ratio of -37.63 and a beta of 1.13. Coupang, Inc. has a 1-year low of $14.92 and a 1-year high of $34.08. The business has a fifty day moving average price of $17.00 and a 200-day moving average price of $18.10.

Coupang Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.