Vanguard Group Inc. Purchases 372,804 Shares of Coupang, Inc. $CPNG

Key Points

• Vanguard Group Inc. has increased its stake in Coupang, Inc. by 6.9%, owning about 5.74 million shares worth approximately $125.86 million as of the latest SEC filing.
• Insider activity included a significant sale of 200,000 shares by Director Benjamin Sun, representing a 13.16% ownership decrease, while almost 12.78% of the stock is owned by corporate insiders.
• Analysts issued mixed ratings for Coupang stock, with price targets ranging from $27.00 to $35.00, resulting in a consensus rating of "Moderate Buy" and a target price of $31.13.

Vanguard Group Inc. boosted its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,739,018 shares of the company's stock after purchasing an additional 372,804 shares during the quarter. Vanguard Group Inc. owned about 0.32% of Coupang worth $125,857,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Davidson Kahn Capital Management LLC boosted its position in Coupang by 31.6% during the first quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock worth $2,271,000 after purchasing an additional 24,877 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Coupang by 40.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock worth $6,776,000 after purchasing an additional 87,412 shares during the period. Vontobel Holding Ltd. bought a new position in Coupang during the first quarter worth $241,000. Deutsche Bank AG boosted 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 purchasing an additional 18,593 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Coupang during the fourth quarter worth $1,394,000. 83.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Coupang

In other Coupang news, 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 transaction, the chief financial officer owned 2,092,290 shares in the company, valued at $58,814,271.90. The trade was a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of Coupang stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.25, for a total value of $282,500,000.00. Following the completion of the transaction, the insider owned 309,542,259 shares in the company, valued at approximately $8,744,568,816.75. This represents a 3.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,262,003 shares of company stock worth $289,852,795 over the last 90 days. Insiders own 12.78% of the company's stock.

Coupang Price Performance

CPNG stock traded down $0.02 during midday trading on Wednesday, reaching $28.40. The company had a trading volume of 417,496 shares, compared to its average volume of 9,396,071. The company has a market capitalization of $51.77 billion, a price-to-earnings ratio of 141.99 and a beta of 1.16. The stock has a 50 day moving average price of $29.48 and a 200-day moving average price of $26.19. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $31.65. 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 (NYSE:CPNG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The company had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. Equities research analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a report on Wednesday, August 6th. Nomura raised Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a report on Wednesday, August 6th. Morgan Stanley lifted their target price on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Nomura Securities raised Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Coupang currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.

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.