Ramirez Asset Management Inc. Makes New Investment in Coupang, Inc. (NYSE:CPNG)

Key Points

• Ramirez Asset Management Inc. has acquired a new stake in Coupang, Inc., purchasing 62,592 shares valued at approximately $1.37 million during the first quarter.
• Several institutional investors, including LPL Financial LLC and TCW Group Inc., have also increased their holdings in Coupang, indicating positive investor sentiment with 83.72% of the stock owned by institutional investors.
• Equities analysts have varying opinions on Coupang, with Barclays raising their price target to $36 and the consensus rating at "Moderate Buy", while the target price stands at $30.08.

Ramirez Asset Management Inc. acquired a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 62,592 shares of the company's stock, valued at approximately $1,373,000.

Several other large investors also recently bought and sold shares of CPNG. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Coupang during the 1st quarter worth about $30,000. Grove Bank & Trust purchased a new stake in Coupang during the 1st quarter worth about $33,000. Itau Unibanco Holding S.A. increased its holdings in Coupang by 520.6% during the 4th 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 holdings in Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after purchasing an additional 1,429 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in Coupang by 23.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company's stock worth $70,000 after purchasing an additional 606 shares during the period. Hedge funds and other institutional investors own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Barclays upped their price objective on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Mizuho raised Coupang to a "hold" rating in a research report on Friday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.08.

Coupang Stock Performance

Shares of CPNG stock traded down $0.65 during trading hours on Friday, reaching $28.78. 5,860,300 shares of the company's stock were exchanged, compared to its average volume of 9,282,700. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $31.65. The company has a market cap of $52.25 billion, a P/E ratio of 205.61 and a beta of 1.16. The company's 50 day moving average is $29.36 and its two-hundred day moving average is $25.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 0.90.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. Coupang had a return on equity of 10.07% and a net margin of 0.82%. The firm's revenue was up 11.2% compared to the same quarter last year. Equities research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Transactions at Coupang

In related news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of Coupang stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total transaction 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. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Benjamin Sun sold 200,000 shares of the firm's stock in a transaction 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 transaction, the director directly owned 1,319,421 shares of the company's stock, valued at $37,418,779.56. The trade was a 13.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,450,350 shares of company stock valued at $1,067,557,885. Company insiders own 12.78% of the company's stock.

Coupang 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.