Principal Financial Group Inc. Sells 19,143 Shares of Coupang, Inc. (NYSE:CPNG)

Principal Financial Group Inc. decreased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 19.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,802 shares of the company’s stock after selling 19,143 shares during the period. Principal Financial Group Inc.’s holdings in Coupang were worth $1,706,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPNG. Grove Bank & Trust bought a new stake in Coupang during the first quarter valued at about $33,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Coupang by 520.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock valued at $43,000 after purchasing an additional 1,640 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in Coupang by 142.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company’s stock worth $53,000 after buying an additional 1,429 shares during the period. Signaturefd LLC lifted its holdings in Coupang by 34.7% during the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock worth $70,000 after buying an additional 822 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in shares of Coupang by 23.3% during the first quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company’s stock worth $70,000 after purchasing an additional 606 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Up 1.2%

Coupang stock opened at $31.52 on Friday. The company has a market capitalization of $57.23 billion, a P/E ratio of 225.14 and a beta of 1.16. The firm’s fifty day simple moving average is $28.78 and its 200-day simple moving average is $24.99. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $31.60.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.02 billion. Coupang had a return on equity of 10.07% and a net margin of 0.82%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Sell-side analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 9,347 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the sale, the vice president owned 177,106 shares in the company, valued at approximately $4,223,978.10. This trade represents a 5.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Greenoaks Capital Partners Llc bought 750,000 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average price of $26.78 per share, with a total value of $20,085,000.00. Following the completion of the transaction, the director directly owned 54,481,161 shares in the company, valued at approximately $1,459,005,491.58. This represents a 1.40% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 40,459,697 shares of company stock worth $1,067,780,811. Company insiders own 12.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CPNG. Wall Street Zen lowered shares of Coupang from a “buy” rating to a “hold” rating in a research note on Sunday. Mizuho upgraded shares of Coupang to a “hold” rating in a research note on Friday, April 18th. Finally, Barclays boosted their price target on shares of Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and an average target price of $30.08.

Coupang 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.