Coupang, Inc. $CPNG Stake Lifted by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Coupang, Inc. (NYSE:CPNG) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,547,637 shares of the company’s stock after acquiring an additional 951,812 shares during the period. Vanguard Group Inc.’s holdings in Coupang were worth $697,029,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Coupang by 4.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,436 shares of the company’s stock valued at $239,000 after acquiring an additional 330 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Coupang by 0.5% in the third quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock valued at $2,533,000 after acquiring an additional 361 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Coupang by 0.6% in the third quarter. CIBC Asset Management Inc now owns 65,029 shares of the company’s stock valued at $2,094,000 after acquiring an additional 364 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of Coupang by 2.9% in the third quarter. Resonant Capital Advisors LLC now owns 13,088 shares of the company’s stock valued at $421,000 after acquiring an additional 374 shares in the last quarter. Finally, Merit Financial Group LLC boosted its holdings in shares of Coupang by 2.7% in the third quarter. Merit Financial Group LLC now owns 15,862 shares of the company’s stock valued at $511,000 after acquiring an additional 418 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Coupang Stock Down 0.0%

CPNG stock opened at $20.58 on Monday. Coupang, Inc. has a 12 month low of $16.74 and a 12 month high of $34.08. The firm has a market cap of $37.63 billion, a PE ratio of 171.54 and a beta of 1.20. The firm has a 50 day simple moving average of $19.54 and a 200 day simple moving average of $22.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 0.79.

Coupang (NYSE:CPNG) last released its earnings results on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period in the prior year, the company earned $0.04 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts forecast that Coupang, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group set a $25.00 price objective on shares of Coupang in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Friday, January 16th. Morgan Stanley cut their target price on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Finally, Wall Street Zen lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.30.

Insider Activity at Coupang

In other news, Director Neil Mehta purchased 2,332,863 shares of Coupang stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $18.40 per share, for a total transaction of $42,924,679.20. Following the transaction, the director owned 55,310,977 shares in the company, valued at $1,017,721,976.80. The trade was a 4.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have purchased 7,350,104 shares of company stock valued at $136,566,051. 12.78% of the stock is currently owned by corporate insiders.

Coupang Company 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.