Strs Ohio Acquires New Stake in Coupang, Inc. $CPNG

Key Points

• Strs Ohio has acquired a new stake in Coupang, Inc. ($CPNG), purchasing 315,942 shares valued at approximately $6.9 million during the first quarter.
• Coupang's stock has recently been rated by analysts, with Deutsche Bank and Wall Street Zen downgrading it to "hold," while Nomura upgraded their rating to "strong-buy."
• Insider selling was noted, with Director Benjamin Sun selling over 815,000 shares in a transaction valued at approximately $26 million.

Strs Ohio bought a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 315,942 shares of the company's stock, valued at approximately $6,929,000.

Several other large investors have also recently added to or reduced their stakes in CPNG. Cetera Investment Advisers lifted its position in Coupang by 2.2% during the fourth quarter. Cetera Investment Advisers now owns 77,458 shares of the company's stock worth $1,703,000 after buying an additional 1,666 shares during the period. Deutsche Bank AG lifted its position in Coupang by 25.7% during the fourth quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock worth $1,997,000 after buying an additional 18,593 shares during the period. Janus Henderson Group PLC lifted its position in Coupang by 13.8% during the fourth quarter. Janus Henderson Group PLC now owns 39,359 shares of the company's stock worth $865,000 after buying an additional 4,761 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Coupang by 5.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,696 shares of the company's stock worth $741,000 after buying an additional 1,590 shares during the period. Finally, Quantinno Capital Management LP lifted its position in Coupang by 12.3% during the fourth quarter. Quantinno Capital Management LP now owns 237,405 shares of the company's stock worth $5,218,000 after buying an additional 26,060 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CPNG. Deutsche Bank Aktiengesellschaft downgraded 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. Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a report on Wednesday, August 6th. Nomura Securities upgraded Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley raised their price objective on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.14.

Coupang Price Performance

Shares of NYSE CPNG opened at $32.45 on Monday. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $32.89. The business has a 50 day moving average price of $29.62 and a two-hundred day moving average price of $26.68. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18. The firm has a market cap of $59.16 billion, a PE ratio of 162.26 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.34 billion. During the same quarter last year, the business earned $0.07 earnings per share. The business's revenue for the quarter was up 16.4% compared to the same quarter last year. Sell-side analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Coupang

In other Coupang news, Director Benjamin Sun sold 815,797 shares of Coupang stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the sale, the director owned 503,624 shares of the company's stock, valued at $16,055,533.12. The trade was a 61.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Pranam Kolari sold 11,653 shares of the business's stock in a transaction on Monday, August 4th. The stock was 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 directly owned 158,676 shares in the company, valued at $4,623,818.64. This represents a 6.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is owned by company insiders.

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.

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