Nuveen LLC Takes $75.78 Million Position in Coupang, Inc. $CPNG

Key Points

• Nuveen LLC acquired 3,455,334 shares of Coupang, Inc. valued at approximately $75.8 million, representing about 0.19% of the company's stock.
• Several institutional investors, including Coronation Fund Managers Ltd. and Virtu Financial LLC, have recently increased their stakes in Coupang during the 1st quarter.
• Analysts have mixed views on Coupang, with a consensus rating of "Moderate Buy" and an average price target of $30.57, while individual ratings range from "strong buy" to "hold."

Nuveen LLC acquired a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,455,334 shares of the company's stock, valued at approximately $75,775,000. Nuveen LLC owned about 0.19% of Coupang at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Coronation Fund Managers Ltd. lifted its position in shares of Coupang by 2.4% during the first quarter. Coronation Fund Managers Ltd. now owns 7,559,777 shares of the company's stock valued at $165,786,000 after buying an additional 176,166 shares during the last quarter. Virtu Financial LLC lifted its position in Coupang by 89.1% during the first quarter. Virtu Financial LLC now owns 24,818 shares of the company's stock valued at $544,000 after acquiring an additional 11,696 shares during the last quarter. Entropy Technologies LP acquired a new stake in Coupang in the first quarter valued at approximately $1,144,000. Invesco Ltd. boosted its stake in Coupang by 44.4% in the first quarter. Invesco Ltd. now owns 1,821,147 shares of the company's stock valued at $39,938,000 after acquiring an additional 559,960 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Coupang by 14.6% during the first quarter. Covestor Ltd now owns 6,703 shares of the company's stock worth $147,000 after purchasing an additional 856 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Insider Buying and Selling at Coupang

In other Coupang news, Director Benjamin Sun sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total value of $5,672,000.00. Following the completion of the transaction, the director directly owned 1,319,421 shares of the company's stock, valued at approximately $37,418,779.56. The trade was a 13.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gaurav Anand sold 75,350 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the sale, the chief financial officer directly owned 2,016,940 shares in the company, valued at $56,050,762.60. The trade was a 3.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,462,003 shares of company stock valued at $295,524,795 in the last three months. Company insiders own 12.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CPNG shares. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a research note on Wednesday, August 6th. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research note on Wednesday, August 6th. Barclays increased their price objective 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, Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coupang currently has an average rating of "Moderate Buy" and an average target price of $30.57.

Coupang Stock Performance

Shares of NYSE:CPNG traded up $0.71 during trading on Monday, hitting $28.85. The stock had a trading volume of 3,754,520 shares, compared to its average volume of 9,445,463. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18. Coupang, Inc. has a 12-month low of $19.02 and a 12-month high of $31.65. The stock has a market capitalization of $52.59 billion, a price-to-earnings ratio of 144.23 and a beta of 1.16. The stock has a 50-day simple moving average of $29.43 and a two-hundred day simple moving average of $25.97.

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