Nuveen LLC Buys Shares of 3,455,334 Coupang, Inc. (NYSE:CPNG)

Nuveen LLC bought a new stake in Coupang, Inc. (NYSE:CPNG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,455,334 shares of the company’s stock, valued at approximately $75,775,000. Nuveen LLC owned approximately 0.19% of Coupang as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of CPNG. Coronation Fund Managers Ltd. increased its position in shares of Coupang by 2.4% during the 1st quarter. Coronation Fund Managers Ltd. now owns 7,559,777 shares of the company’s stock worth $165,786,000 after purchasing an additional 176,166 shares during the last quarter. Virtu Financial LLC increased its position in shares of Coupang by 89.1% during the 1st quarter. Virtu Financial LLC now owns 24,818 shares of the company’s stock worth $544,000 after purchasing an additional 11,696 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Coupang during the 1st quarter worth approximately $1,144,000. Invesco Ltd. increased its position in shares of Coupang by 44.4% during the 1st quarter. Invesco Ltd. now owns 1,821,147 shares of the company’s stock worth $39,938,000 after purchasing an additional 559,960 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Coupang by 14.6% during the 1st quarter. Covestor Ltd now owns 6,703 shares of the company’s stock worth $147,000 after acquiring an additional 856 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CPNG shares. Nomura Securities upgraded Coupang to a “strong-buy” rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research note on Wednesday, August 6th. Barclays increased their price target on Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, August 6th. Finally, Mizuho upgraded Coupang to a “hold” rating in a research note on Friday, April 18th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.57.

Coupang Stock Performance

Shares of NYSE CPNG opened at $28.49 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The stock’s fifty day moving average price is $29.44 and its two-hundred day moving average price is $25.86. Coupang, Inc. has a one year low of $19.02 and a one year high of $31.65. The firm has a market cap of $51.73 billion, a price-to-earnings ratio of 142.46 and a beta of 1.16.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The firm had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. During the same period in the prior year, the company earned $0.07 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 11,653 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $29.14, for a total transaction of $339,568.42. Following the completion of the sale, the vice president directly owned 158,676 shares in the company, valued at approximately $4,623,818.64. This represents a 6.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total value of $5,672,000.00. Following the sale, the director owned 1,319,421 shares of the company’s stock, valued at approximately $37,418,779.56. The trade was a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,462,003 shares of company stock valued at $295,524,795. Corporate insiders own 12.78% of the company’s stock.

Coupang 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.