Strs Ohio Invests $6.93 Million 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 purchased a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 315,942 shares of the company's stock, valued at approximately $6,929,000.

A number of other institutional investors also recently modified their holdings of the company. Dodge & Cox raised its stake in Coupang by 101.6% in the first quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock worth $894,413,000 after buying an additional 20,555,600 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Coupang during the first quarter valued at approximately $168,127,000. Massachusetts Financial Services Co. MA increased its position in shares of Coupang by 436.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock valued at $190,497,000 after acquiring an additional 7,067,830 shares in the last quarter. Nuveen LLC bought a new stake in shares of Coupang during the first quarter valued at approximately $75,775,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Coupang by 204.7% in the first quarter. Assenagon Asset Management S.A. now owns 3,352,002 shares of the company's stock worth $73,509,000 after purchasing an additional 2,251,819 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Pranam Kolari sold 11,653 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $29.14, for a total value of $339,568.42. Following the sale, the vice president directly owned 158,676 shares in the company, valued at $4,623,818.64. The trade was a 6.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gaurav Anand sold 75,350 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the sale, the chief financial officer owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. This trade represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 988,983 shares of company stock worth $31,203,966 in the last 90 days. 12.78% of the stock is owned by company insiders.

Coupang Price Performance

Shares of CPNG traded down $0.47 during trading hours on Friday, reaching $32.95. 111,558,696 shares of the stock traded hands, compared to its average volume of 12,638,589. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $34.08. The company's 50-day moving average price is $29.94 and its two-hundred day moving average price is $26.97. The company has a market cap of $60.07 billion, a P/E ratio of 164.76 and a beta of 1.15.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Arete Research assumed coverage on shares of Coupang in a report on Thursday. They issued a "buy" rating and a $40.00 target price on the stock. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a report on Wednesday, August 6th. Arete assumed coverage on shares of Coupang in a research note on Thursday. They set a "buy" rating and a $40.00 price target on the stock. Finally, Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $33.11.

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.