Kentucky Retirement Systems Purchases New Stake in Coupang, Inc. (NYSE:CPNG)

Kentucky Retirement Systems bought a new position in Coupang, Inc. (NYSE:CPNG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 79,070 shares of the company's stock, valued at approximately $1,734,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Deltec Asset Management LLC lifted its holdings in shares of Coupang by 34.8% in the first quarter. Deltec Asset Management LLC now owns 15,500 shares of the company's stock worth $340,000 after acquiring an additional 4,000 shares during the last quarter. Advisory Resource Group lifted its holdings in shares of Coupang by 4.1% in the first quarter. Advisory Resource Group now owns 48,233 shares of the company's stock worth $1,058,000 after acquiring an additional 1,879 shares during the last quarter. United Advisor Group LLC lifted its holdings in shares of Coupang by 7.7% in the first quarter. United Advisor Group LLC now owns 17,442 shares of the company's stock worth $383,000 after acquiring an additional 1,242 shares during the last quarter. Matthews International Capital Management LLC lifted its holdings in shares of Coupang by 23.1% in the first quarter. Matthews International Capital Management LLC now owns 852,199 shares of the company's stock worth $18,689,000 after acquiring an additional 159,811 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its holdings in shares of Coupang by 1.1% in the first quarter. Johnson Investment Counsel Inc. now owns 73,442 shares of the company's stock worth $1,611,000 after acquiring an additional 830 shares during the last quarter. Institutional investors own 83.72% of the company's stock.

Insider Transactions at Coupang

In other news, 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 shares were sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Pranam Kolari sold 9,347 shares of Coupang stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the sale, the vice president now directly owns 177,106 shares of the company's stock, valued at approximately $4,223,978.10. The trade was a 5.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,459,697 shares of company stock valued at $1,067,780,811 in the last quarter. 12.78% of the stock is currently owned by company insiders.

Coupang Trading Up 2.0%

NYSE:CPNG traded up $0.55 on Tuesday, reaching $28.93. 11,575,226 shares of the stock traded hands, compared to its average volume of 8,020,219. The firm has a market capitalization of $52.53 billion, a price-to-earnings ratio of 206.67 and a beta of 1.15. The company's 50 day moving average is $26.26 and its 200-day moving average is $24.07. 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, Inc. has a 1-year low of $18.16 and a 1-year high of $29.14.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The firm had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. Coupang had a net margin of 0.82% and a return on equity of 10.07%. Coupang's revenue was up 11.2% on a year-over-year basis. Equities research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of research reports. Mizuho upgraded shares of Coupang to a "hold" rating in a report on Friday, April 18th. Barclays raised their price objective on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Coupang from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Coupang has a consensus rating of "Moderate Buy" and a consensus price target of $29.64.

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.