Point72 Hong Kong Ltd bought a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 63,405 shares of the company's stock, valued at approximately $1,394,000.
Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Coupang in the fourth quarter valued at approximately $404,896,000. Price T Rowe Associates Inc. MD raised its holdings in Coupang by 29.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after acquiring an additional 17,123,637 shares during the period. Durable Capital Partners LP boosted its holdings in Coupang by 13.6% during the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock valued at $629,426,000 after acquiring an additional 3,420,133 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Coupang by 106.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company's stock valued at $127,017,000 after purchasing an additional 2,979,981 shares during the last quarter. Finally, Coronation Fund Managers Ltd. grew its position in shares of Coupang by 53.3% in the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company's stock valued at $162,292,000 after purchasing an additional 2,566,581 shares during the last quarter. 83.72% of the stock is owned by institutional investors.
Analysts Set New Price Targets
CPNG has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a research report on Wednesday, February 26th. Mizuho raised Coupang to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays raised their price objective on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Coupang currently has a consensus rating of "Moderate Buy" and an average target price of $29.64.
Read Our Latest Stock Analysis on CPNG
Insider Activity
In other news, CFO Gaurav Anand sold 75,350 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $26.10, for a total value of $1,966,635.00. Following the sale, the chief financial officer now directly owns 2,267,290 shares in the company, valued at approximately $59,176,269. This represents a 3.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total value of $772,500,000.00. Following the transaction, the insider now owns 319,542,259 shares of the company's stock, valued at $8,228,213,169.25. This trade represents a 8.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,334,697 shares of company stock worth $780,547,061. 13.60% of the stock is currently owned by corporate insiders.
Coupang Stock Performance
Shares of CPNG stock traded down $0.10 during mid-day trading on Monday, reaching $27.14. The stock had a trading volume of 10,933,247 shares, compared to its average volume of 7,869,516. Coupang, Inc. has a one year low of $18.16 and a one year high of $27.73. The firm has a market cap of $49.00 billion, a PE ratio of 47.61, a P/E/G ratio of 52.20 and a beta of 1.08. The firm's 50 day simple moving average is $23.01 and its 200 day simple moving average is $23.43. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.
Coupang (NYSE:CPNG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.02 billion. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.
About Coupang
(
Free Report)
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.
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