Strs Ohio Boosts Stock Position in Coupang, Inc. (NYSE:CPNG)

Strs Ohio raised its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 44.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 271,707 shares of the company's stock after purchasing an additional 84,040 shares during the period. Strs Ohio's holdings in Coupang were worth $4,398,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in Coupang by 21.6% during the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company's stock valued at $2,356,036,000 after purchasing an additional 25,843,034 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Coupang by 9.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 52,182,527 shares of the company's stock worth $834,922,000 after acquiring an additional 4,587,207 shares in the last quarter. Duquesne Family Office LLC increased its stake in Coupang by 4.4% in the fourth quarter. Duquesne Family Office LLC now owns 20,283,765 shares of the company's stock valued at $298,374,000 after acquiring an additional 849,458 shares during the last quarter. FMR LLC raised its position in Coupang by 2.0% during the third quarter. FMR LLC now owns 19,836,006 shares of the company's stock valued at $337,212,000 after purchasing an additional 381,964 shares in the last quarter. Finally, Sands Capital Management LLC lifted its stake in Coupang by 5.2% during the third quarter. Sands Capital Management LLC now owns 14,342,509 shares of the company's stock worth $243,823,000 after purchasing an additional 709,867 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Trading Down 1.3 %

CPNG traded down $0.29 during trading on Friday, hitting $22.01. 11,947,363 shares of the stock traded hands, compared to its average volume of 13,377,450. The firm has a 50-day moving average of $18.08 and a 200 day moving average of $16.77. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $22.89. The firm has a market capitalization of $39.47 billion, a P/E ratio of 29.75 and a beta of 1.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The company had revenue of $6.56 billion for the quarter, compared to analysts' expectations of $6.40 billion. During the same period last year, the firm earned $0.06 earnings per share. Coupang's quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts anticipate that Coupang, Inc. will post 0.32 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CPNG shares. Citigroup raised Coupang from a "neutral" rating to a "buy" rating and raised their price objective for the company from $19.00 to $26.00 in a report on Monday. TheStreet raised shares of Coupang from a "d+" rating to a "c-" rating in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and boosted their price target for the stock from $18.50 to $21.00 in a research note on Thursday, February 29th. Finally, Barclays raised their price objective on Coupang from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Coupang presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.42.

Insider Activity at Coupang

In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the completion of the transaction, the insider now directly owns 364,542,259 shares of the company's stock, valued at $6,929,948,343.59. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Neil Mehta sold 1,600,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $18.68, for a total value of $29,888,000.00. Following the completion of the transaction, the director now directly owns 48,006,135 shares in the company, valued at approximately $896,754,601.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the transaction, the insider now directly owns 364,542,259 shares of the company's stock, valued at $6,929,948,343.59. The disclosure for this sale can be found here. Insiders have sold a total of 33,355,590 shares of company stock worth $633,443,979 over the last quarter. Corporate insiders own 14.90% of the company's stock.

Coupang Company 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.