Ninety One UK Ltd Boosts Holdings in Coupang, Inc. (NYSE:CPNG)

Ninety One UK Ltd lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 51.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,190,434 shares of the company's stock after buying an additional 1,079,958 shares during the period. Ninety One UK Ltd owned about 0.18% of Coupang worth $69,966,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Grove Bank & Trust bought a new stake in shares of Coupang in the 1st quarter valued at about $33,000. Itau Unibanco Holding S.A. increased its holdings in shares of Coupang by 520.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after purchasing an additional 1,640 shares during the period. 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 acquiring 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 acquiring 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 acquiring an additional 606 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of recent research reports. Barclays increased their price objective on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Mizuho upgraded shares of Coupang to a "hold" rating in a report on Friday, April 18th. Finally, Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Coupang currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.08.

Insiders Place Their Bets

In other news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the stock in a transaction 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 of the company's stock, valued at $8,744,568,816.75. This represents a 3.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Greenoaks Capital Partners Llc purchased 650,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was bought at an average cost of $26.86 per share, for a total transaction of $17,459,000.00. Following the acquisition, the director directly owned 55,131,161 shares in the company, valued at approximately $1,480,822,984.46. The trade was a 1.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 40,459,697 shares of company stock worth $1,067,780,811. Company insiders own 12.78% of the company's stock.

Coupang Stock Up 1.1%

CPNG stock traded up $0.33 during trading on Thursday, reaching $30.50. The stock had a trading volume of 5,945,721 shares, compared to its average volume of 9,244,308. Coupang, Inc. has a one year low of $18.16 and a one year high of $30.91. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The company's 50 day moving average is $27.93 and its two-hundred day moving average is $24.56. The company has a market capitalization of $55.37 billion, a price-to-earnings ratio of 217.95 and a beta of 1.16.

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

About Coupang

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.