Coupang (NYSE:CPNG) Upgraded at Nomura Securities

Key Points

• Coupang has been upgraded to a "strong-buy" rating by Nomura Securities, with a new price target of $35.00.
• Despite the positive outlook, Coupang's stock is currently down 5.9%, having opened at $28.13 with a market capitalization of $51.07 billion.
• Insider activity includes a significant share sale by major shareholder Svf Investments (Uk) Ltd, who sold 10 million shares at an average price of $28.25.

Coupang (NYSE:CPNG - Get Free Report) was upgraded by stock analysts at Nomura Securities to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research report on Wednesday. Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a research report on Wednesday. Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Barclays upped their target price on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.57.

Coupang Stock Down 5.9%

NYSE:CPNG opened at $28.13 on Wednesday. The firm has a market capitalization of $51.07 billion, a PE ratio of 140.66 and a beta of 1.16. The stock has a 50 day moving average of $29.46 and a 200-day moving average of $25.66. Coupang has a 52 week low of $19.02 and a 52 week high of $31.65. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23.

Coupang (NYSE:CPNG - Get Free Report) 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 the consensus estimate of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.67%. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. Analysts predict that Coupang will post 0.17 EPS for the current year.

Insider Buying and Selling

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.25, for a total value of $282,500,000.00. Following the transaction, the insider owned 309,542,259 shares of the company's stock, valued at approximately $8,744,568,816.75. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 completion of the transaction, the director directly owned 1,319,421 shares in the company, valued at $37,418,779.56. This represents a 13.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,462,003 shares of company stock valued at $295,397,453 in the last three months. Insiders own 12.78% of the company's stock.

Institutional Trading of Coupang

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Coupang by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock valued at $1,663,594,000 after purchasing an additional 17,123,637 shares in the last quarter. Dodge & Cox raised its holdings in shares of Coupang by 101.6% during the first quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock worth $894,413,000 after acquiring an additional 20,555,600 shares in the last quarter. Durable Capital Partners LP raised its holdings in shares of Coupang by 13.6% during the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after acquiring an additional 3,420,133 shares in the last quarter. Dragoneer Investment Group LLC raised its holdings in shares of Coupang by 9.0% during the fourth quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock worth $451,497,000 after acquiring an additional 1,690,826 shares in the last quarter. Finally, HMI Capital Management L.P. raised its holdings in shares of Coupang by 4.2% during the fourth quarter. HMI Capital Management L.P. now owns 11,662,498 shares of the company's stock worth $256,342,000 after acquiring an additional 470,000 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

About Coupang

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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