Coupang, Inc. (NYSE:CPNG) Shares Acquired by Ninety One UK Ltd

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Coupang during the fourth quarter valued at $404,896,000. Price T Rowe Associates Inc. MD lifted its position in Coupang by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock valued at $1,663,594,000 after purchasing an additional 17,123,637 shares during the last quarter. Durable Capital Partners LP lifted its position in Coupang by 13.6% during the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock valued at $629,426,000 after purchasing an additional 3,420,133 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Coupang by 106.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company's stock valued at $127,017,000 after purchasing an additional 2,979,981 shares during the last quarter. Finally, FMR LLC lifted its position in Coupang by 9.1% during the fourth 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. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Up 0.3%

Shares of CPNG traded up $0.10 during mid-day trading on Wednesday, hitting $30.09. 7,237,333 shares of the company's stock were exchanged, compared to its average volume of 8,304,507. The company has a market cap of $54.63 billion, a price-to-earnings ratio of 214.93 and a beta of 1.16. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $30.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.16. The stock's 50-day moving average is $27.80 and its 200-day moving average is $24.53.

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

Insider Buying and Selling at Coupang

In other Coupang news, CFO Gaurav Anand sold 175,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total value of $4,919,250.00. Following the completion of the sale, the chief financial officer owned 2,092,290 shares of the company's stock, valued at approximately $58,814,271.90. This trade represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $26.78 per share, with a total value of $20,085,000.00. Following the purchase, the director directly owned 54,481,161 shares in the company, valued at approximately $1,459,005,491.58. The trade was a 1.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 40,459,697 shares of company stock valued at $1,067,780,811. 12.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CPNG. Mizuho raised shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Barclays raised their target price 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. Finally, Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Coupang has a consensus rating of "Moderate Buy" and an average 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.