Northern Trust Corp Buys 691,132 Shares of Coupang, Inc. $CPNG

Key Points

• Northern Trust Corp increased its holdings in Coupang, Inc. by 12.4%, owning approximately 6.27 million shares valued at around $137.5 million following their latest SEC filing.
• Coupang reported an earnings miss with an EPS of $0.02, below the consensus estimate of $0.07, despite achieving a year-over-year revenue growth of 16.4% to $8.52 billion for the quarter.
• Institutional ownership of Coupang stands at 83.72% with notable movements from various funds, including Guggenheim Capital and First Trust Advisors, indicating significant interest from professional investors.

Northern Trust Corp increased its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 12.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,271,684 shares of the company's stock after buying an additional 691,132 shares during the quarter. Northern Trust Corp owned 0.35% of Coupang worth $137,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in CPNG. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Coupang during the first quarter valued at $30,000. Grove Bank & Trust acquired a new stake in Coupang in the first quarter valued at $33,000. Brooklyn Investment Group raised its position in Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after purchasing an additional 506 shares during the last quarter. Itau Unibanco Holding S.A. raised its position in Coupang by 520.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after purchasing an additional 1,640 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after buying an additional 1,429 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a research note on Wednesday, August 6th. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Morgan Stanley raised their price target on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a research note on Wednesday, August 6th. Finally, Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Coupang has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.

Coupang Stock Up 2.2%

Shares of Coupang stock traded up $0.63 on Thursday, hitting $28.87. The company had a trading volume of 4,337,794 shares, compared to its average volume of 9,397,928. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $31.65. 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 stock has a 50 day moving average of $29.48 and a 200-day moving average of $26.20. The stock has a market capitalization of $52.62 billion, a price-to-earnings ratio of 144.47 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The company had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.34 billion. During the same quarter last year, the company posted $0.07 EPS. The company's quarterly revenue was up 16.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling at Coupang

In other Coupang news, 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 transaction, the vice president owned 158,676 shares of the company's stock, valued at $4,623,818.64. This trade represents a 6.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gaurav Anand sold 75,350 shares of the business's 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 completion of the transaction, the chief financial officer owned 2,016,940 shares in the company, valued at $56,050,762.60. The trade was a 3.60% decrease in their position. 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. Insiders own 12.78% of the company's stock.

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.