Legal & General Group Plc Makes New $8.38 Million Investment in Coupang, Inc. (NYSE:CPNG)

Legal & General Group Plc purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 200,538 shares of the company’s stock, valued at approximately $8,379,000.

Other large investors have also modified their holdings of the company. Tradition Wealth Management LLC purchased a new stake in Coupang during the first quarter worth about $25,000. North Star Investment Management Corp. purchased a new stake in Coupang during the second quarter worth about $25,000. Psagot Investment House Ltd. acquired a new position in shares of Coupang during the second quarter worth about $25,000. BDO Wealth Advisors LLC acquired a new position in shares of Coupang during the first quarter worth about $27,000. Finally, Montag A & Associates Inc. acquired a new position in shares of Coupang during the first quarter worth about $28,000. Institutional investors own 70.20% of the company’s stock.

Coupang stock opened at $26.44 on Thursday. Coupang, Inc. has a 12 month low of $25.75 and a 12 month high of $69.00. The business has a 50 day simple moving average of $30.58 and a 200-day simple moving average of $37.32.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 10th. The company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.54 billion. As a group, sell-side analysts anticipate that Coupang, Inc. will post -0.58 EPS for the current fiscal year.

CPNG has been the subject of a number of analyst reports. Citigroup lowered their price objective on Coupang from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating in a research report on Thursday, August 12th. Zacks Investment Research raised Coupang from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, CLSA assumed coverage on Coupang in a research report on Friday, July 9th. They set an “outperform” rating and a $46.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.00.

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 57,000,000 shares of the stock in a transaction on Tuesday, September 14th. The stock was sold at an average price of $29.68, for a total value of $1,691,760,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Thuan Pham sold 359,687 shares of the stock in a transaction on Monday, August 16th. The stock was sold at an average price of $33.17, for a total value of $11,930,817.79. The disclosure for this sale can be found here. Insiders sold 57,689,610 shares of company stock valued at $1,713,874,558 in the last quarter.

About Coupang

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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