Federated Hermes Inc. Reduces Stake in Coupang, Inc. (NYSE:CPNG)

Federated Hermes Inc. lessened its position in shares of Coupang, Inc. (NYSE:CPNG) by 4.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 274,458 shares of the company’s stock after selling 11,885 shares during the quarter. Federated Hermes Inc.’s holdings in Coupang were worth $4,443,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its stake in Coupang by 21.6% during the 4th quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock worth $2,356,036,000 after buying an additional 25,843,034 shares during the last quarter. FMR LLC lifted its position in Coupang by 2.0% during the 3rd quarter. FMR LLC now owns 19,836,006 shares of the company’s stock worth $337,212,000 after acquiring an additional 381,964 shares during the period. Sands Capital Management LLC lifted its position in Coupang by 5.2% during the 3rd quarter. Sands Capital Management LLC now owns 14,342,509 shares of the company’s stock worth $243,823,000 after acquiring an additional 709,867 shares during the period. Pacer Advisors Inc. lifted its position in Coupang by 104,032.2% during the 4th quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company’s stock worth $177,188,000 after acquiring an additional 10,933,789 shares during the period. Finally, Bamco Inc. NY lifted its position in Coupang by 6.2% during the 3rd quarter. Bamco Inc. NY now owns 6,919,149 shares of the company’s stock worth $117,626,000 after acquiring an additional 405,668 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Down 0.5 %

CPNG opened at $22.91 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90. The business has a 50 day simple moving average of $18.98 and a 200-day simple moving average of $17.00. The stock has a market capitalization of $41.08 billion, a P/E ratio of 30.55 and a beta of 1.32. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $23.40.

Coupang (NYSE:CPNG) last issued its quarterly earnings data 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. The firm had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.40 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. Coupang’s revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, equities analysts anticipate that Coupang, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays increased their price objective on Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Citigroup raised Coupang from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $19.00 to $26.00 in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and increased their price objective for the stock from $18.50 to $21.00 in a research report on Thursday, February 29th. Finally, TheStreet raised Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.42.

Insider Buying and Selling

In related news, Director Neil Mehta sold 1,600,000 shares of Coupang stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the completion of the transaction, the director now directly owns 48,006,135 shares of the company’s stock, valued at $896,754,601.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Coupang news, insider Pranam Kolari sold 2,356 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $13.88, for a total transaction of $32,701.28. Following the completion of the transaction, the insider now owns 182,844 shares of the company’s stock, valued at $2,537,874.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neil Mehta sold 1,600,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $18.68, for a total value of $29,888,000.00. Following the transaction, the director now directly owns 48,006,135 shares of the company’s stock, valued at approximately $896,754,601.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,355,590 shares of company stock valued at $633,443,979. 14.90% of the stock is owned by insiders.

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.