Ninety One UK Ltd Purchases 249,551 Shares of Coupang, Inc. $CPNG

Ninety One UK Ltd boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,104,525 shares of the company’s stock after acquiring an additional 249,551 shares during the period. Ninety One UK Ltd’s holdings in Coupang were worth $132,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPNG. Albion Financial Group UT acquired a new stake in shares of Coupang during the second quarter worth about $30,000. Hilltop National Bank bought a new stake in Coupang during the 3rd quarter worth approximately $34,000. Loomis Sayles & Co. L P acquired a new stake in Coupang during the 2nd quarter worth approximately $45,000. Hollencrest Capital Management raised its holdings in Coupang by 3,246.0% during the 2nd quarter. Hollencrest Capital Management now owns 1,673 shares of the company’s stock worth $50,000 after buying an additional 1,623 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Coupang by 600.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company’s stock valued at $55,000 after buying an additional 2,149 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPNG has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating and set a $31.00 price objective on shares of Coupang in a research report on Sunday, December 14th. Nomura reduced their target price on shares of Coupang from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Bank of America increased their target price on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Arete Research began coverage on Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.25.

Insider Buying and Selling

In other Coupang news, VP Pranam Kolari sold 11,653 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $31.98, for a total value of $372,662.94. Following the completion of the transaction, the vice president directly owned 147,023 shares in the company, valued at $4,701,795.54. This trade represents a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.78% of the company’s stock.

Coupang Stock Down 2.2%

Coupang stock opened at $23.59 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08. The company has a fifty day simple moving average of $27.24 and a 200 day simple moving average of $29.26. The company has a market cap of $43.09 billion, a P/E ratio of 112.34 and a beta of 1.18.

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

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.