Coupang, Inc. $CPNG Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Coupang, Inc. by 11.3% during the second quarter, owning 602,922 shares valued at approximately $18 million according to recent SEC filings.
• Several institutional investors significantly raised their positions in Coupang during the same period, indicating strong institutional interest with 83.72% of the company's stock now owned by institutional investors and hedge funds.
• Coupang reported earnings of $0.02 per share, missing estimates, but had revenue of $8.52 billion, surpassing analyst expectations with a year-over-year growth of 16.4%.

Aberdeen Group plc boosted its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 602,922 shares of the company's stock after acquiring an additional 61,150 shares during the period. Aberdeen Group plc's holdings in Coupang were worth $18,064,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in Coupang by 92.9% in the 2nd quarter. Blue Trust Inc. now owns 5,954 shares of the company's stock valued at $178,000 after acquiring an additional 2,867 shares during the period. Ramirez Asset Management Inc. increased its position in Coupang by 185.4% in the 2nd quarter. Ramirez Asset Management Inc. now owns 178,638 shares of the company's stock valued at $5,352,000 after acquiring an additional 116,046 shares during the period. Callan Family Office LLC acquired a new position in Coupang in the 2nd quarter valued at about $246,000. Maryland State Retirement & Pension System increased its position in Coupang by 11.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 60,346 shares of the company's stock valued at $1,808,000 after acquiring an additional 6,208 shares during the period. Finally, Joel Isaacson & Co. LLC acquired a new position in Coupang in the 2nd quarter valued at about $298,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Insiders Place Their Bets

In related news, Director Pedro Franceschi sold 21,428 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the sale, the chief financial officer directly owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. The trade was a 3.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is owned by insiders.

Coupang Stock Performance

CPNG opened at $31.75 on Wednesday. The stock has a market cap of $57.88 billion, a P/E ratio of 158.76 and a beta of 1.18. 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 stock's 50 day simple moving average is $30.57 and its 200 day simple moving average is $28.09. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The firm had revenue of $8.52 billion during 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 revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. As a group, equities analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Morgan Stanley boosted their target price on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Nomura Securities upgraded Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Zacks Research cut Coupang from a "hold" rating to a "strong sell" rating in a research report on Monday, October 6th. Finally, Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Coupang currently has an average rating of "Moderate Buy" and a consensus target price of $33.50.

Coupang Company 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.

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