Federated Hermes Inc. Has $19.74 Million Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Key Points

• Federated Hermes Inc. reduced its holding in Coupang, Inc. by 9.1%, now owning 900,284 shares valued at approximately $19.74 million.
• A number of institutional investors increased their stakes in Coupang, with Price T Rowe Associates acquiring an additional 17.1 million shares worth over $1.66 billion in the last quarter.
• Analysts currently give Coupang a consensus rating of "Moderate Buy" with an average target price of $30.08, following mixed ratings from various investment firms.

Federated Hermes Inc. lowered its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 900,284 shares of the company's stock after selling 89,920 shares during the quarter. Federated Hermes Inc.'s holdings in Coupang were worth $19,743,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CPNG. Price T Rowe Associates Inc. MD raised its position in Coupang by 29.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after purchasing an additional 17,123,637 shares during the last quarter. FMR LLC boosted its stake in shares of Coupang by 9.1% in the 4th quarter. FMR LLC now owns 29,619,581 shares of the company's stock valued at $651,038,000 after purchasing an additional 2,465,973 shares during the last quarter. Durable Capital Partners LP raised its stake in shares of Coupang by 13.6% during the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after buying an additional 3,420,133 shares during the last quarter. Dragoneer Investment Group LLC boosted its stake in Coupang by 9.0% in the fourth quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock valued at $451,497,000 after acquiring an additional 1,690,826 shares during the last quarter. Finally, Dodge & Cox grew its holdings in Coupang by 0.6% during the 4th quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock worth $444,640,000 after acquiring an additional 123,900 shares during the period. 83.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Mizuho upgraded Coupang to a "hold" rating in a report on Friday, April 18th. Barclays lifted their price target on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.08.

Coupang Trading Down 0.1%

CPNG opened at $29.42 on Friday. The firm's fifty day simple moving average is $29.36 and its 200 day simple moving average is $25.46. The stock has a market capitalization of $53.41 billion, a P/E ratio of 210.11 and a beta of 1.16. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $31.65.

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

Insider Buying and Selling at Coupang

In other Coupang news, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total value of $5,672,000.00. Following the sale, the director directly owned 1,319,421 shares in the company, valued at approximately $37,418,779.56. The trade was a 13.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gaurav Anand sold 175,000 shares of the business's stock in a transaction dated 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 directly owned 2,092,290 shares in the company, valued at $58,814,271.90. This trade represents a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,450,350 shares of company stock worth $1,067,557,885. Company insiders own 12.78% of the company's stock.

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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