GQG Partners LLC purchased a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,666,520 shares of the company's stock, valued at approximately $168,127,000. GQG Partners LLC owned 0.42% of Coupang as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in 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 acquiring an additional 17,123,637 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Coupang by 436.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock valued at $190,497,000 after purchasing an additional 7,067,830 shares during the last quarter. Nuveen LLC acquired a new position in Coupang during the 1st quarter valued at $75,775,000. Durable Capital Partners LP raised its stake in Coupang by 13.6% during the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock valued at $629,426,000 after purchasing an additional 3,420,133 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Coupang by 106.5% during the 4th 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. 83.72% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a research note on Wednesday, August 6th. Barclays raised their price objective on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Mizuho raised shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Finally, Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research note on Wednesday, August 6th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.57.
Read Our Latest Stock Analysis on Coupang
Insider Buying and Selling
In other news, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction that occurred 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 directly owned 1,319,421 shares in the company, valued at $37,418,779.56. This trade represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction that occurred on Monday, August 4th. The shares were 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 owned 158,676 shares in the company, valued at $4,623,818.64. This trade represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,462,003 shares of company stock valued at $295,524,795 over the last ninety days. Insiders own 12.78% of the company's stock.
Coupang Stock Performance
Shares of CPNG stock opened at $28.18 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The company has a market capitalization of $51.16 billion, a P/E ratio of 140.91 and a beta of 1.16. The company's 50 day moving average price is $29.44 and its two-hundred day moving average price is $25.84. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $31.65.
Coupang (NYSE:CPNG - Get Free Report) last announced 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 analyst estimates of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%. The business's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. On average, analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal 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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