Handelsbanken Fonder AB Grows Stock Holdings in Coupang, Inc. $CPNG

Key Points

• Handelsbanken Fonder AB increased its Coupang stake by 10.2% in the second quarter, adding 64,967 shares to reach 702,968 shares valued at approximately $12.2 million.
• Institutional investors own 83.72% of Coupang, while insiders own 12.83%; insider Harold Rogers separately sold 192,110 shares for about $3.1 million under a pre-arranged trading plan.
• Coupang shares opened at $16.30, near the lower end of their 52-week range. Analysts’ consensus rating is “Hold”, with an average price target of $25.39, despite mixed individual ratings.

Handelsbanken Fonder AB grew its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 10.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 702,968 shares of the company's stock after purchasing an additional 64,967 shares during the period. Handelsbanken Fonder AB's holdings in Coupang were worth $12,211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. California State Teachers Retirement System increased its position in shares of Coupang by 0.5% during the 3rd quarter. California State Teachers Retirement System now owns 78,679 shares of the company's stock valued at $2,533,000 after purchasing an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Coupang by 19.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company's stock worth $86,000 after buying an additional 597 shares during the last quarter. National Bank of Canada FI lifted its position in Coupang by 6.6% in the 3rd quarter. National Bank of Canada FI now owns 9,801 shares of the company's stock worth $316,000 after buying an additional 609 shares during the last quarter. Assetmark Inc. boosted its stake in Coupang by 9.5% in the fourth quarter. Assetmark Inc. now owns 7,150 shares of the company's stock worth $169,000 after buying an additional 620 shares in the last quarter. Finally, Vise Technologies Inc. boosted its stake in Coupang by 3.0% in the fourth quarter. Vise Technologies Inc. now owns 22,302 shares of the company's stock worth $526,000 after buying an additional 642 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Price Performance

Shares of Coupang stock opened at $16.30 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. The business's 50 day simple moving average is $16.99 and its two-hundred day simple moving average is $18.02. The stock has a market capitalization of $29.25 billion, a P/E ratio of -37.90 and a beta of 1.13. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08.

Analyst Ratings Changes

Several research firms have commented on CPNG. Bank of America decreased their price target on shares of Coupang from $27.00 to $24.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Coupang in a research note on Tuesday, August 4th. Citigroup lowered shares of Coupang from a "buy" rating to a "neutral" rating and reduced their target price for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and decreased their target price for the stock from $23.00 to $21.50 in a research report on Wednesday, August 5th. Finally, CLSA began coverage on shares of Coupang in a research report on Monday, June 15th. They set an "outperform" rating and a $24.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $25.39.

Insider Activity at Coupang

In related news, insider Harold Rogers sold 192,110 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the sale, the insider directly owned 740,931 shares in the company, valued at $11,988,263.58. This represents a 20.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the sale, the chief accounting officer directly owned 181,915 shares of the company's stock, valued at $2,928,831.50. The trade was a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is currently owned by company insiders.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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