Allspring Global Investments Holdings LLC Grows Position in Coupang, Inc. (NYSE:CPNG)

Allspring Global Investments Holdings LLC increased its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 40.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 305,512 shares of the company's stock after buying an additional 87,412 shares during the period. Allspring Global Investments Holdings LLC's holdings in Coupang were worth $6,776,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust purchased a new position in Coupang in the first quarter valued at approximately $33,000. Itau Unibanco Holding S.A. increased its stake in Coupang by 520.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after purchasing an additional 1,640 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in Coupang by 142.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after purchasing an additional 1,429 shares during the last quarter. Signaturefd LLC increased its stake in Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after purchasing an additional 822 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Coupang by 23.3% in the first quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company's stock valued at $70,000 after purchasing an additional 606 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Stock Performance

Shares of CPNG stock traded down $0.28 during trading hours on Monday, hitting $30.01. The stock had a trading volume of 8,070,491 shares, compared to its average volume of 8,273,387. The firm has a market capitalization of $54.49 billion, a PE ratio of 214.36 and a beta of 1.16. Coupang, Inc. has a twelve month low of $18.16 and a twelve month high of $30.91. The stock's 50 day moving average is $27.67 and its 200 day moving average is $24.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 0.90.

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

Insider Activity

In related news, VP Pranam Kolari sold 9,347 shares of the stock in a transaction on Friday, May 2nd. The stock was 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 directly owned 177,106 shares of the company's stock, valued at $4,223,978.10. This trade represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gaurav Anand sold 175,000 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total value of $4,919,250.00. Following the sale, the chief financial officer directly owned 2,092,290 shares of the company's stock, valued at approximately $58,814,271.90. This represents a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,459,697 shares of company stock valued at $1,067,780,811. 12.78% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CPNG shares. Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Barclays increased their price target 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. Finally, Mizuho raised Coupang to a "hold" rating in a report on Friday, April 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Coupang currently has an average rating of "Moderate Buy" and a consensus price target of $30.08.

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.