Public Employees Retirement System of Ohio Buys New Stake in Coupang, Inc. $CPNG

Key Points

• Public Employees Retirement System of Ohio acquired 588,521 Coupang shares during the second quarter, worth approximately $10.2 million. Institutional investors and hedge funds collectively own 83.72% of the company.
• Analyst sentiment is mixed, with six Buy, four Hold, and two Sell ratings. Coupang has a consensus rating of Hold and an average price target of $25.39.
• Coupang reported a quarterly loss of $0.09 per share, beating estimates for a $0.27 loss, while revenue rose 3.9% year over year to $8.86 billion. Shares opened at $16.04, near the lower end of their 52-week range.

Public Employees Retirement System of Ohio bought a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 588,521 shares of the company's stock, valued at approximately $10,223,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Tree Line Advisors Hong Kong Ltd. bought a new position in shares of Coupang in the second quarter worth $67,743,000. Flossbach Von Storch SE acquired a new stake in Coupang in the second quarter worth about $2,084,000. Handelsbanken Fonder AB lifted its holdings in Coupang by 10.2% in the second quarter. Handelsbanken Fonder AB now owns 702,968 shares of the company's stock worth $12,211,000 after purchasing an additional 64,967 shares during the period. Sapient Capital LLC grew its position in Coupang by 2.9% in the 2nd quarter. Sapient Capital LLC now owns 128,526 shares of the company's stock valued at $2,232,000 after buying an additional 3,637 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its position in Coupang by 10.3% in the 2nd quarter. 180 Wealth Advisors LLC now owns 39,230 shares of the company's stock valued at $681,000 after buying an additional 3,668 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of recent analyst reports. Mizuho set a $22.00 price target on shares of Coupang in a research report on Wednesday, August 5th. Barclays reiterated an "overweight" rating and set a $29.00 price objective on shares of Coupang in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and dropped their target price for the stock from $23.00 to $21.50 in a report on Wednesday, August 5th. Weiss Ratings restated a "sell (d)" rating on shares of Coupang in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group set a $31.00 price target on Coupang in a research note on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Coupang has a consensus rating of "Hold" and an average price target of $25.39.

Coupang Price Performance

Shares of NYSE CPNG opened at $16.04 on Tuesday. Coupang, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $28.83 billion, a price-to-earnings ratio of -37.30 and a beta of 1.13. The firm has a 50-day moving average of $16.84 and a two-hundred day moving average of $17.77.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.18. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The company had revenue of $8.86 billion for the quarter, compared to analysts' expectations of $8.92 billion. During the same quarter in the previous year, the company posted $0.02 EPS. The business's revenue was up 3.9% compared to the same quarter last year. As a group, analysts expect that Coupang, Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Activity at Coupang

In other Coupang news, insider Harold Rogers sold 192,110 shares of Coupang stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the transaction, the insider owned 740,931 shares in the company, valued at approximately $11,988,263.58. The trade was a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jonathan D. Lee sold 5,519 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.10, for a total value of $88,855.90. Following the completion of the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at $2,928,831.50. This represents a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is owned by corporate insiders.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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