Handelsbanken Fonder AB Decreases Stock Position in Coupang, Inc. (NYSE:CPNG)

Handelsbanken Fonder AB lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 434,315 shares of the company's stock after selling 12,541 shares during the quarter. Handelsbanken Fonder AB's holdings in Coupang were worth $9,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Empowered Funds LLC purchased a new position in shares of Coupang during the 4th quarter valued at about $772,000. Sovran Advisors LLC purchased a new position in Coupang during the fourth quarter valued at approximately $500,000. Leavell Investment Management Inc. lifted its holdings in Coupang by 64.3% during the fourth quarter. Leavell Investment Management Inc. now owns 18,400 shares of the company's stock valued at $404,000 after purchasing an additional 7,200 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Coupang by 23.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company's stock valued at $4,861,000 after purchasing an additional 41,384 shares in the last quarter. Finally, AMS Capital Ltda lifted its holdings in Coupang by 8.4% during the fourth quarter. AMS Capital Ltda now owns 236,914 shares of the company's stock valued at $5,207,000 after purchasing an additional 18,268 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Buying and Selling

In other news, CFO Gaurav Anand sold 175,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the sale, the chief financial officer now directly owns 2,092,290 shares of the company's stock, valued at $58,814,271.90. This represents a 7.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin Sun sold 200,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the sale, the director now owns 1,319,421 shares in the company, valued at $37,418,779.56. This represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,459,697 shares of company stock worth $785,280,811. Corporate insiders own 12.78% of the company's stock.

Coupang Price Performance

Shares of CPNG stock traded up $0.25 during mid-day trading on Monday, hitting $28.35. The company had a trading volume of 6,519,413 shares, compared to its average volume of 8,043,699. Coupang, Inc. has a 52-week low of $18.16 and a 52-week high of $29.12. The stock's 50 day moving average price is $25.43 and its 200-day moving average price is $23.89. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The company has a market capitalization of $51.46 billion, a P/E ratio of 49.73, a P/E/G ratio of 52.20 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $8.02 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company's quarterly revenue was up 11.2% on a year-over-year basis. Equities research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays lifted their target price on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Coupang presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.64.

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.