Rhumbline Advisers Buys 51,230 Shares of Coupang, Inc. (NYSE:CPNG)

Rhumbline Advisers raised its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,871,439 shares of the company's stock after purchasing an additional 51,230 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Coupang worth $41,041,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CPNG. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coupang in the fourth quarter valued at approximately $26,000. Itau Unibanco Holding S.A. lifted its position in shares of Coupang by 520.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after buying an additional 1,640 shares during the last quarter. Allworth Financial LP lifted its position in shares of Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after buying an additional 1,986 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Coupang by 142.9% in the fourth 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 during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after buying an additional 822 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insider Transactions at Coupang

In other Coupang news, Director Benjamin Sun sold 200,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the sale, the director now owns 1,319,421 shares in the company, valued at $37,418,779.56. This trade represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gaurav Anand sold 175,000 shares of Coupang stock in a transaction dated 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 transaction, the chief financial officer now owns 2,092,290 shares in the company, valued at approximately $58,814,271.90. This represents a 7.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,709,697 shares of company stock valued at $791,138,311 over the last three months. Company insiders own 12.78% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays lifted their price target on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. Finally, Mizuho raised shares of Coupang to a "hold" rating in a report on Friday, April 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.64.

Coupang Stock Up 0.6%

Shares of Coupang stock traded up $0.17 on Thursday, hitting $28.52. The company had a trading volume of 6,899,168 shares, compared to its average volume of 7,996,706. The stock has a market capitalization of $51.78 billion, a price-to-earnings ratio of 50.04, a P/E/G ratio of 52.20 and a beta of 1.15. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $28.87. The stock has a 50 day moving average of $24.24 and a 200-day moving average of $23.70. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $8.02 billion. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

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.