Coupang, Inc. $CPNG Shares Bought by William Blair Investment Management LLC

William Blair Investment Management LLC increased its position in Coupang, Inc. (NYSE:CPNG) by 114.6% during the third quarter, Holdings Channel reports. The fund owned 2,205,332 shares of the company’s stock after purchasing an additional 1,177,875 shares during the quarter. William Blair Investment Management LLC’s holdings in Coupang were worth $71,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in Coupang by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,215,142 shares of the company’s stock worth $361,128,000 after buying an additional 318,115 shares in the last quarter. TRB Advisors LP bought a new stake in Coupang during the 3rd quarter valued at $1,863,000. New York State Common Retirement Fund boosted its position in Coupang by 18.5% during the 3rd quarter. New York State Common Retirement Fund now owns 728,861 shares of the company’s stock worth $23,469,000 after acquiring an additional 113,950 shares during the period. Rit Capital Partners PLC grew its stake in shares of Coupang by 3.5% in the third quarter. Rit Capital Partners PLC now owns 2,700,750 shares of the company’s stock worth $86,937,000 after purchasing an additional 91,550 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Coupang by 343.5% during the third quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after purchasing an additional 22,147,432 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Coupang Stock Performance

Shares of NYSE CPNG opened at $19.06 on Monday. The stock’s fifty day simple moving average is $20.45 and its 200 day simple moving average is $26.38. The stock has a market capitalization of $34.81 billion, a price-to-earnings ratio of 158.81 and a beta of 1.20. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. Coupang, Inc. has a 52-week low of $16.74 and a 52-week high of $34.08.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company had revenue of $8.84 billion during the quarter, compared to analyst estimates of $9.12 billion. Coupang had a net margin of 0.60% and a return on equity of 4.52%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. As a group, sell-side analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Coupang

In other news, CAO Jonathan D. Lee sold 2,679 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $23.62, for a total transaction of $63,277.98. Following the sale, the chief accounting officer owned 122,096 shares in the company, valued at $2,883,907.52. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.78% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CPNG has been the subject of several research analyst reports. UBS Group set a $25.00 price objective on shares of Coupang in a report on Thursday, February 19th. Barclays reduced their price target on shares of Coupang from $40.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Citigroup lowered their price objective on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Bank of America upped their target price on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a research note on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Coupang has an average rating of “Hold” and a consensus target price of $27.00.

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.