American International Group Inc. Takes Position in Coupang, Inc. (NYSE:CPNG)

American International Group Inc. acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,375 shares of the company’s stock, valued at approximately $355,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. New York Life Investment Management LLC lifted its stake in shares of Coupang by 6.2% during the first quarter. New York Life Investment Management LLC now owns 13,740 shares of the company’s stock valued at $220,000 after buying an additional 799 shares during the period. Pacer Advisors Inc. lifted its stake in shares of 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 during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of 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 during the period. Truist Financial Corp lifted its stake in shares of Coupang by 9.5% during the first quarter. Truist Financial Corp now owns 20,977 shares of the company’s stock valued at $336,000 after buying an additional 1,825 shares during the period. Finally, Howland Capital Management LLC lifted its stake in shares of Coupang by 4.0% during the first quarter. Howland Capital Management LLC now owns 52,540 shares of the company’s stock valued at $841,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Coupang from $19.00 to $22.00 in a research note on Thursday, August 10th. TheStreet downgraded shares of Coupang from a “c-” rating to a “d+” rating in a research note on Wednesday, November 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research note on Wednesday, August 9th. Barclays increased their price target on shares of Coupang from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Finally, Mizuho increased their price target on shares of Coupang from $20.00 to $22.00 in a research note on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Insider Activity at Coupang

In related news, insider Tae Jung Kim sold 4,673 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $16.95, for a total transaction of $79,207.35. Following the completion of the sale, the insider now directly owns 254,530 shares of the company’s stock, valued at approximately $4,314,283.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 14.90% of the company’s stock.

Coupang Stock Performance

Shares of CPNG stock opened at $16.04 on Monday. The company’s fifty day simple moving average is $17.14 and its 200-day simple moving average is $17.26. Coupang, Inc. has a 52 week low of $12.66 and a 52 week high of $20.25. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. The company has a market cap of $28.68 billion, a PE ratio of 66.83 and a beta of 1.38.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Coupang had a net margin of 1.86% and a return on equity of 16.09%. The business had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the business posted $0.05 EPS. The business’s revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts anticipate that Coupang, Inc. will post 0.28 EPS for the current year.

Coupang Profile

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.