Coupang, Inc. $CPNG Shares Bought by Legal & General Group Plc

Legal & General Group Plc grew its stake in shares of Coupang, Inc. (NYSE:CPNG) by 11.7% during the fourth quarter, HoldingsChannel reports. The firm owned 4,385,089 shares of the company’s stock after buying an additional 460,623 shares during the period. Legal & General Group Plc’s holdings in Coupang were worth $103,444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New York State Common Retirement Fund boosted its holdings in Coupang by 18.5% in the third quarter. New York State Common Retirement Fund now owns 728,861 shares of the company’s stock valued at $23,469,000 after purchasing an additional 113,950 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Coupang by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after purchasing an additional 951,812 shares during the last quarter. Rit Capital Partners PLC boosted its holdings in Coupang by 3.5% in the third quarter. Rit Capital Partners PLC now owns 2,700,750 shares of the company’s stock valued at $86,937,000 after purchasing an additional 91,550 shares during the last quarter. Long Walk Management LP boosted its holdings in Coupang by 16.4% in the third quarter. Long Walk Management LP now owns 2,935,000 shares of the company’s stock valued at $94,507,000 after purchasing an additional 413,375 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Coupang by 112.5% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 218,000 shares of the company’s stock valued at $7,020,000 after purchasing an additional 115,426 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Transactions at Coupang

In other Coupang news, Director Neil Mehta acquired 3,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average cost of $18.68 per share, with a total value of $56,040,000.00. Following the acquisition, the director directly owned 52,978,114 shares of the company’s stock, valued at $989,631,169.52. This represents a 6.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders purchased 7,350,104 shares of company stock valued at $136,566,051. Corporate insiders own 12.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CPNG. Nomura reduced their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Barclays upped their price objective on Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Wall Street Zen cut Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Finally, UBS Group set a $25.00 price objective on Coupang in a research note on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.92.

Coupang Stock Performance

Shares of CPNG stock opened at $16.19 on Friday. Coupang, Inc. has a 12-month low of $15.03 and a 12-month high of $34.08. The firm has a market capitalization of $29.05 billion, a price-to-earnings ratio of -179.81 and a beta of 1.20. The business has a 50 day simple moving average of $18.60 and a 200 day simple moving average of $21.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same period last year, the company earned $0.06 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts anticipate that Coupang, Inc. will post -0.17 EPS for the current year.

Coupang Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.