Coupang, Inc. $CPNG Stock Position Lifted by Aviva PLC

Aviva PLC boosted its stake in Coupang, Inc. (NYSE:CPNG) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,275 shares of the company’s stock after buying an additional 1,914 shares during the quarter. Aviva PLC’s holdings in Coupang were worth $1,386,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sequoia Financial Advisors LLC increased its stake in shares of Coupang by 0.5% in the second quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock worth $2,051,000 after acquiring an additional 363 shares during the last quarter. Inspirion Wealth Advisors LLC increased its position in Coupang by 0.3% in the 2nd quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock worth $4,024,000 after purchasing an additional 400 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Coupang by 1.4% during the 1st quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock worth $646,000 after purchasing an additional 408 shares in the last quarter. Baader Bank Aktiengesellschaft grew its stake in shares of Coupang by 4.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock valued at $323,000 after buying an additional 461 shares in the last quarter. Finally, Brooklyn Investment Group increased its holdings in Coupang by 43.1% in the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock worth $37,000 after buying an additional 506 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coupang

In other news, insider Harold Rogers sold 64,755 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the completion of the transaction, the insider owned 449,569 shares of the company’s stock, valued at approximately $14,413,182.14. This represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin Sun sold 815,797 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director owned 503,624 shares of the company’s stock, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 913,633 shares of company stock valued at $29,143,084 in the last quarter. Company insiders own 12.78% of the company’s stock.

Coupang Stock Performance

Shares of NYSE CPNG opened at $28.81 on Thursday. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $34.08. The company has a market cap of $52.51 billion, a P/E ratio of 137.17 and a beta of 1.17. The business’s 50 day moving average is $31.63 and its two-hundred day moving average is $29.52. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 0.13.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.13 billion. Coupang had a return on equity of 6.95% and a net margin of 1.16%.Coupang’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. On average, equities analysts expect that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several recent research reports. Nomura raised shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, August 6th. Bank of America increased their target price on shares of Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Mizuho raised their target price on Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a research note on Wednesday, August 6th. Finally, Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

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.