Lansforsakringar Fondforvaltning AB publ Has $2.13 Million Stock Holdings in Coupang, Inc. $CPNG

Key Points

• Lansforsakringar Fondforvaltning AB publ increased its stake in Coupang, Inc. by 13.6%, acquiring 11,608 shares to own a total of 97,212 shares worth approximately $2.13 million.
• Several hedge funds, including Davidson Kahn Capital Management LLC and Allspring Global Investments Holdings LLC, also increased their holdings in Coupang during the first quarter, signifying growing institutional interest.
• Coupang's quarterly earnings report showed revenue of $8.52 billion, exceeding analyst estimates, though it reported an earnings per share of $0.02, missing expectations.

Lansforsakringar Fondforvaltning AB publ lifted its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 13.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,212 shares of the company's stock after acquiring an additional 11,608 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Coupang were worth $2,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC acquired a new stake in shares of Coupang in the 1st quarter worth approximately $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Coupang in the 1st quarter worth approximately $30,000. Grove Bank & Trust acquired a new stake in Coupang during the first quarter valued at approximately $33,000. Brooklyn Investment Group lifted its stake in Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock valued at $37,000 after purchasing an additional 506 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Coupang by 600.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock valued at $55,000 after purchasing an additional 2,149 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on CPNG. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a research note on Wednesday, August 6th. Morgan Stanley increased their target price on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research note on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Coupang presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.14.

Coupang Trading Up 0.6%

Shares of CPNG stock traded up $0.17 during trading hours on Friday, reaching $28.90. 8,132,816 shares of the stock traded hands, compared to its average volume of 7,959,836. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $31.65. The business has a fifty day moving average price of $29.41 and a 200 day moving average price of $26.40. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $52.68 billion, a PE ratio of 144.48 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The firm had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The firm's revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Activity

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $28.25, for a total value of $282,500,000.00. Following the transaction, the insider owned 309,542,259 shares in the company, valued at approximately $8,744,568,816.75. This represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $2,093,976.50. Following the completion of the transaction, the chief financial officer owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. This represents a 3.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,087,003 shares of company stock worth $284,933,545 over the last 90 days. 12.78% of the stock is owned by company insiders.

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.