Coupang, Inc. (NYSE:CPNG) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 436.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,686,580 shares of the company's stock after acquiring an additional 7,067,830 shares during the period. Massachusetts Financial Services Co. MA owned 0.48% of Coupang worth $190,497,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Davidson Kahn Capital Management LLC increased its position in shares of Coupang by 31.6% during the first quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock valued at $2,271,000 after buying an additional 24,877 shares during the period. Allspring Global Investments Holdings LLC grew its position in Coupang by 40.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock worth $6,776,000 after buying an additional 87,412 shares in the last quarter. Deutsche Bank AG increased its stake in Coupang by 25.7% in the 4th quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock worth $1,997,000 after acquiring an additional 18,593 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Coupang during the first quarter worth about $241,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Coupang in the fourth quarter worth approximately $1,394,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coupang

In other 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 transaction of $5,672,000.00. Following the transaction, the director owned 1,319,421 shares in the company, valued at $37,418,779.56. This trade represents a 13.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $25.75, for a total value of $772,500,000.00. Following the completion of the transaction, the insider directly owned 319,542,259 shares of the company's stock, valued at approximately $8,228,213,169.25. This trade represents a 8.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,459,697 shares of company stock worth $1,067,780,811 over the last 90 days. 12.78% of the stock is currently owned by insiders.

Coupang Trading Up 0.3%

Shares of CPNG traded up $0.09 during mid-day trading on Wednesday, hitting $31.22. 8,044,603 shares of the company's stock traded hands, compared to its average volume of 8,351,839. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $31.42. The firm has a market capitalization of $56.69 billion, a P/E ratio of 223.02 and a beta of 1.16. The business's 50-day moving average price is $28.47 and its 200-day moving average price is $24.79.

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

Analysts Set New Price Targets

CPNG has been the topic of several research reports. Wall Street Zen upgraded shares of Coupang from a "hold" rating to a "buy" rating in a research report on Saturday. Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. Finally, 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 report on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.08.

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.