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Raymond James Financial Inc. Increases Holdings in Coupang, Inc. $CPNG

Coupang logo with Retail/Wholesale background

Key Points

  • Raymond James Financial Inc. increased its stake in Coupang, Inc. by 20% during the 1st quarter, owning 1,320,777 shares valued at approximately $28.97 million.
  • Insiders have recently sold over 10 million shares of Coupang stock, with significant transactions including a sale by the CFO totaling $4.92 million.
  • Analysts are optimistic about Coupang's growth, with several firms raising their target price, reflecting a consensus rating of "Moderate Buy" and an average price target of $31.13.
  • Looking to export and analyze Coupang data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Raymond James Financial Inc. raised its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 20.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,320,777 shares of the company's stock after purchasing an additional 220,513 shares during the quarter. Raymond James Financial Inc. owned approximately 0.07% of Coupang worth $28,965,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CPNG. Guggenheim Capital LLC bought a new stake in shares of Coupang during the 4th quarter valued at $439,000. Dimensional Fund Advisors LP boosted its holdings in shares of Coupang by 97.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,249,233 shares of the company's stock valued at $49,440,000 after buying an additional 1,107,659 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Coupang by 298.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,018 shares of the company's stock valued at $330,000 after buying an additional 11,253 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after buying an additional 1,429 shares in the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of Coupang during the 4th quarter valued at $599,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Price Performance

Shares of NYSE:CPNG traded down $0.17 during trading on Friday, hitting $28.47. 3,814,054 shares of the company's stock were exchanged, compared to its average volume of 9,413,163. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $31.65. The business's 50-day simple moving average is $29.49 and its 200 day simple moving average is $26.24. The company has a market cap of $51.89 billion, a price-to-earnings ratio of 142.33 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business had revenue of $8.52 billion for the quarter, compared to analysts' expectations of $8.34 billion. During the same quarter in the prior year, the business posted $0.07 EPS. The business's revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, equities analysts predict that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Nomura Securities raised Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price on the stock. in a research report on Wednesday, August 6th. Morgan Stanley raised their target price on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Nomura raised Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a research note on Wednesday, August 6th. Finally, Barclays raised their price objective on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.13.

Read Our Latest Stock Report on CPNG

Insider Transactions at Coupang

In other news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $28.25, for a total value of $282,500,000.00. Following the sale, the insider directly owned 309,542,259 shares in the company, valued at approximately $8,744,568,816.75. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Pranam Kolari sold 11,653 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $29.14, for a total value of $339,568.42. Following the completion of the sale, the vice president owned 158,676 shares of the company's stock, valued at $4,623,818.64. The trade was a 6.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,087,003 shares of company stock worth $284,933,545. 12.78% of the stock is currently owned by company insiders.

Coupang Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Coupang (NYSE:CPNG)

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