TD Asset Management Inc increased its holdings in shares of Coupang, Inc. (NYSE:CPNG – Free Report) by 3.9% in the second quarter, Holdings Channel reports. The firm owned 390,506 shares of the company’s stock after buying an additional 14,595 shares during the quarter. TD Asset Management Inc’s holdings in Coupang were worth $6,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in shares of Coupang by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 26,558 shares of the company’s stock worth $462,000 after purchasing an additional 665 shares during the last quarter. New York Life Investment Management LLC boosted its position in shares of Coupang by 6.2% in the first quarter. New York Life Investment Management LLC now owns 13,740 shares of the company’s stock worth $220,000 after acquiring an additional 799 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its position in shares of Coupang by 13.6% in the second quarter. Vestmark Advisory Solutions Inc. now owns 11,978 shares of the company’s stock worth $208,000 after acquiring an additional 1,430 shares during the last quarter. Pacer Advisors Inc. lifted its position in Coupang by 19.1% during the second quarter. Pacer Advisors Inc. now owns 9,392 shares of the company’s stock valued at $163,000 after buying an additional 1,504 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Coupang by 10.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,593 shares of the company’s stock valued at $313,000 after buying an additional 1,793 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Barclays lifted their price target on shares of Coupang from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Mizuho lifted their price target on shares of Coupang from $20.00 to $22.00 in a research note on Wednesday, August 9th. Bank of America boosted their target price on shares of Coupang from $19.00 to $22.00 in a research note on Thursday, August 10th. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research note on Wednesday, August 9th. Finally, TheStreet lowered shares of Coupang from a “c-” rating to a “d+” rating in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.
Coupang Stock Performance
Shares of CPNG opened at $16.34 on Tuesday. The company has a market cap of $29.21 billion, a price-to-earnings ratio of 68.08 and a beta of 1.38. The firm has a fifty day moving average of $17.09 and a 200-day moving average of $17.26. Coupang, Inc. has a 1 year low of $12.66 and a 1 year high of $20.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 1.14.
Coupang (NYSE:CPNG – Get Free Report) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $5.91 billion. Coupang had a return on equity of 16.09% and a net margin of 1.86%. Coupang’s revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. As a group, equities analysts anticipate that Coupang, Inc. will post 0.28 earnings per share for the current year.
In related news, insider Tae Jung Kim sold 4,673 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $16.95, for a total value of $79,207.35. Following the completion of the sale, the insider now owns 254,530 shares of the company’s stock, valued at approximately $4,314,283.50. The sale was disclosed in a document filed with the SEC, which is available at this link. 14.90% of the stock is owned by corporate insiders.
Coupang, Inc, together with its subsidiaries owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. The company operates through two segments, Product Commerce and Developing Offerings. 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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