Ninety One UK Ltd Grows Stock Position in Coupang, Inc. $CPNG

Ninety One UK Ltd raised its holdings in Coupang, Inc. (NYSE:CPNG) by 20.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,854,974 shares of the company’s stock after acquiring an additional 664,540 shares during the quarter. Ninety One UK Ltd’s holdings in Coupang were worth $115,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPNG. SVB Wealth LLC purchased a new stake in Coupang in the first quarter valued at about $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Coupang in the first quarter valued at about $30,000. Albion Financial Group UT purchased a new stake in Coupang in the second quarter valued at about $30,000. Grove Bank & Trust purchased a new stake in Coupang in the first quarter valued at about $33,000. Finally, Brooklyn Investment Group raised its stake in Coupang by 43.1% in the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock valued at $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.

Analyst Ratings Changes

A number of equities research analysts have commented on CPNG shares. Deutsche Bank Aktiengesellschaft cut 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. Wall Street Zen lowered Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Arete Research began coverage on Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective on the stock. Arete began coverage on Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.11.

Insider Activity

In related news, CFO Gaurav Anand sold 75,350 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the sale, the chief financial officer directly owned 2,016,940 shares of the company’s stock, valued at $56,050,762.60. This trade represents a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Pranam Kolari sold 11,653 shares of the firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the sale, the vice president directly owned 158,676 shares in the company, valued at approximately $4,623,818.64. This trade represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 988,983 shares of company stock valued at $31,203,966 over the last 90 days. Company insiders own 12.78% of the company’s stock.

Coupang Stock Down 1.9%

Coupang stock opened at $32.21 on Wednesday. The firm has a market cap of $58.72 billion, a price-to-earnings ratio of 161.06 and a beta of 1.15. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. The business’s 50-day moving average price is $30.10 and its 200 day moving average price is $27.47. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The company had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The firm’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share. As a group, sell-side analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

Coupang Company Profile

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.