Ameriprise Financial Inc. Purchases 163,523 Shares of Coupang, Inc. $CPNG

Key Points

• Ameriprise Financial Inc. has increased its stake in Coupang, Inc. by 8.8%, acquiring an additional 163,523 shares during the first quarter, bringing its total ownership to approximately $44.45 million.
• Coupang recently reported earnings of $0.02 per share, missing analyst expectations, despite revenue of $8.52 billion, which exceeded estimates and represented a 16.4% year-over-year increase.
• Institutional investors own a significant portion of Coupang, with ownership totaling approximately 83.72% of the company's stock as various funds actively traded its shares in recent quarters.

Ameriprise Financial Inc. raised its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,026,981 shares of the company's stock after purchasing an additional 163,523 shares during the period. Ameriprise Financial Inc. owned 0.11% of Coupang worth $44,452,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Martingale Asset Management L P boosted its stake in Coupang by 277.3% during the first quarter. Martingale Asset Management L P now owns 237,001 shares of the company's stock valued at $5,197,000 after buying an additional 174,183 shares during the period. Tradition Wealth Management LLC purchased a new stake in shares of Coupang in the 1st quarter valued at about $206,000. EntryPoint Capital LLC bought a new stake in shares of Coupang during the 1st quarter valued at about $289,000. Hsbc Holdings PLC grew its holdings in shares of Coupang by 71.8% during the first quarter. Hsbc Holdings PLC now owns 772,321 shares of the company's stock worth $16,924,000 after purchasing an additional 322,742 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Coupang by 12.4% in the first quarter. Northern Trust Corp now owns 6,271,684 shares of the company's stock worth $137,538,000 after purchasing an additional 691,132 shares during the last quarter. Institutional investors own 83.72% of the company's stock.

Insiders Place Their Bets

In other news, CFO Gaurav Anand sold 75,350 shares of Coupang stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.79, for a total value of $2,093,976.50. Following the sale, the chief financial officer directly owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. This trade represents a 3.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Pranam Kolari sold 11,653 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $29.14, for a total value of $339,568.42. Following the transaction, the vice president directly 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. In the last 90 days, insiders sold 10,087,003 shares of company stock worth $284,933,545. 12.78% of the stock is currently owned by company insiders.

Coupang Trading Down 0.5%

CPNG traded down $0.15 during trading on Wednesday, hitting $28.26. 1,241,918 shares of the stock traded hands, compared to its average volume of 9,375,689. The firm has a market capitalization of $51.53 billion, a P/E ratio of 141.35 and a beta of 1.15. Coupang, Inc. has a 12-month low of $19.02 and a 12-month high of $31.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The firm has a 50-day moving average of $29.48 and a 200 day moving average of $26.34.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm 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 7.47%. The business's revenue was up 16.4% on a year-over-year basis. During the same period last year, the company posted $0.07 earnings per share. Equities research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of research reports. Barclays boosted their price target 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. Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price on the stock. in a research note on Wednesday, August 6th. Nomura Securities upgraded Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Morgan Stanley increased their price objective on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Finally, Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.13.

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.