Russell Investments Group Ltd. Acquires 748,353 Shares of Coupang, Inc. $CPNG

Russell Investments Group Ltd. boosted its holdings in Coupang, Inc. (NYSE:CPNG) by 29.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,277,494 shares of the company’s stock after purchasing an additional 748,353 shares during the period. Russell Investments Group Ltd.’s holdings in Coupang were worth $105,585,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Orion Capital Management LLC bought a new stake in shares of Coupang during the 3rd quarter worth $32,000. Hilltop National Bank bought a new position in Coupang during the third quarter valued at about $34,000. Fifth Third Bancorp grew its position in Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after buying an additional 1,000 shares during the period. Root Financial Partners LLC bought a new position in Coupang during the third quarter valued at about $40,000. Finally, Loomis Sayles & Co. L P purchased a new stake in Coupang during the second quarter worth about $45,000. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 1.3%

Shares of Coupang stock opened at $18.83 on Tuesday. The stock has a market capitalization of $34.39 billion, a P/E ratio of 156.89 and a beta of 1.20. Coupang, Inc. has a 52-week low of $16.74 and a 52-week high of $34.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 1.04. The stock’s 50-day simple moving average is $19.98 and its 200 day simple moving average is $25.99.

Coupang (NYSE:CPNG) last issued its earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $8.84 billion for the quarter, compared to the consensus estimate of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.Coupang’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. As a group, research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Activity at Coupang

In related news, CAO Jonathan D. Lee sold 2,679 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $23.62, for a total transaction of $63,277.98. Following the sale, the chief accounting officer directly owned 122,096 shares in the company, valued at approximately $2,883,907.52. This represents a 2.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 12.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CPNG. UBS Group set a $25.00 price objective on shares of Coupang in a research report on Thursday, February 19th. Barclays increased their target price on shares of Coupang from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Mizuho lowered their price target on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Citigroup lowered their price target on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Morgan Stanley dropped their price objective on Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.70.

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.