Coupang, Inc. (NYSE:CPNG) Shares Bought by abrdn plc

abrdn plc boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 118.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 363,978 shares of the company’s stock after buying an additional 197,705 shares during the quarter. abrdn plc’s holdings in Coupang were worth $6,195,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CPNG. Exchange Traded Concepts LLC increased its holdings in shares of Coupang by 9.5% in the third quarter. Exchange Traded Concepts LLC now owns 64,097 shares of the company’s stock valued at $1,090,000 after purchasing an additional 5,566 shares during the period. Simplicity Solutions LLC increased its holdings in shares of Coupang by 23.5% in the third quarter. Simplicity Solutions LLC now owns 15,420 shares of the company’s stock valued at $262,000 after purchasing an additional 2,938 shares during the period. Xponance Inc. increased its holdings in shares of Coupang by 1.7% in the third quarter. Xponance Inc. now owns 154,938 shares of the company’s stock valued at $2,634,000 after purchasing an additional 2,566 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Coupang by 3.3% in the third quarter. Bank of New York Mellon Corp now owns 2,632,070 shares of the company’s stock valued at $44,745,000 after purchasing an additional 84,353 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in shares of Coupang in the third quarter valued at about $1,590,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CPNG has been the topic of a number of recent research reports. Citigroup upgraded Coupang from a “neutral” rating to a “buy” rating and upped their target price for the stock from $19.00 to $26.00 in a research note on Monday, April 15th. TheStreet upgraded Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. Barclays upped their target price on Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and upped their target price for the stock from $18.50 to $21.00 in a research note on Thursday, February 29th. One research analyst has rated the stock with a hold rating and three have issued 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 $22.42.

Insiders Place Their Bets

In other Coupang news, insider Pranam Kolari sold 2,356 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 182,844 shares in the company, valued at $2,537,874.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Pranam Kolari sold 2,356 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $13.88, for a total value of $32,701.28. Following the transaction, the insider now owns 182,844 shares in the company, valued at $2,537,874.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Harold Rogers sold 139,080 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $18.25, for a total value of $2,538,210.00. Following the completion of the transaction, the insider now owns 394,192 shares in the company, valued at approximately $7,194,004. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,355,590 shares of company stock worth $633,443,979. 14.90% of the stock is owned by corporate insiders.

Coupang Stock Performance

Shares of CPNG stock opened at $22.91 on Friday. The company has a market capitalization of $41.08 billion, a P/E ratio of 30.55 and a beta of 1.32. The business’s 50 day moving average is $18.98 and its two-hundred day moving average is $16.99. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. 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 results on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.40 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. Coupang’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 earnings per share. Analysts expect that Coupang, Inc. will post 0.32 EPS for the current fiscal year.

About Coupang

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.