Coupang, Inc. $CPNG Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its stake in shares of Coupang, Inc. (NYSE:CPNG) by 606.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,199,022 shares of the company’s stock after purchasing an additional 1,887,918 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.12% of Coupang worth $65,883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CPNG. Dodge & Cox raised its position in shares of Coupang by 101.6% during the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock worth $894,413,000 after purchasing an additional 20,555,600 shares during the last quarter. Norges Bank purchased a new stake in shares of Coupang during the second quarter worth approximately $587,186,000. Massachusetts Financial Services Co. MA raised its stake in Coupang by 25.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,897,027 shares of the company’s stock valued at $326,475,000 after purchasing an additional 2,210,447 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Coupang by 17.3% in the 2nd quarter. Geode Capital Management LLC now owns 7,877,160 shares of the company’s stock valued at $236,000,000 after purchasing an additional 1,160,575 shares in the last quarter. Finally, GQG Partners LLC acquired a new stake in Coupang during the 1st quarter worth $168,127,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $31.98, for a total value of $372,662.94. Following the transaction, the vice president directly owned 147,023 shares in the company, valued at $4,701,795.54. This trade represents a 7.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Benjamin Sun sold 815,797 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total value of $26,007,608.36. Following the transaction, the director owned 503,624 shares in the company, valued at $16,055,533.12. The trade was a 61.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 913,633 shares of company stock valued at $29,143,084 over the last ninety days. 12.78% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CPNG. Arete began coverage on Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Arete Research assumed coverage on shares of Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 target price on the stock. Morgan Stanley increased their price target on shares of Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Barclays lifted their price target on shares of Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Finally, Zacks Research upgraded Coupang from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Coupang Trading Up 1.7%

Shares of Coupang stock opened at $27.01 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $30.14 and a 200-day simple moving average of $29.74. The stock has a market cap of $49.34 billion, a price-to-earnings ratio of 128.63 and a beta of 1.18. Coupang, Inc. has a 12-month low of $19.02 and a 12-month high of $34.08.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.13 billion. Coupang had a net margin of 1.16% and a return on equity of 6.95%. Coupang’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. On average, equities analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

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.