Federated Hermes Inc. Has $66.23 Million Stock Holdings in Coupang, Inc. $CPNG

Federated Hermes Inc. grew its holdings in Coupang, Inc. (NYSE:CPNG) by 145.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,210,621 shares of the company’s stock after purchasing an additional 1,310,337 shares during the period. Federated Hermes Inc. owned approximately 0.12% of Coupang worth $66,230,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Quantum Portfolio Management LLC boosted its stake in Coupang by 16.5% in the second quarter. Quantum Portfolio Management LLC now owns 19,715 shares of the company’s stock valued at $591,000 after buying an additional 2,785 shares in the last quarter. Amundi raised its stake in Coupang by 299.6% during the second quarter. Amundi now owns 1,158,730 shares of the company’s stock worth $34,797,000 after acquiring an additional 868,762 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Coupang by 115.9% in the second quarter. Marshall Wace LLP now owns 6,360,239 shares of the company’s stock worth $190,553,000 after acquiring an additional 3,414,359 shares during the last quarter. Dodge & Cox lifted its holdings in shares of Coupang by 14.3% in the second quarter. Dodge & Cox now owns 46,614,520 shares of the company’s stock worth $1,396,571,000 after acquiring an additional 5,829,600 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Coupang by 52.8% in the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after purchasing an additional 8,107 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CPNG. Zacks Research upgraded shares of Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Bank of America boosted their target price on shares of Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Arete Research started coverage on shares of Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target for the company. Mizuho increased their price target on Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Finally, Morgan Stanley boosted their price objective on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Coupang has an average rating of “Moderate Buy” and a consensus target price of $34.38.

Coupang Trading Up 0.4%

Shares of NYSE CPNG opened at $27.13 on Monday. The firm has a 50 day moving average price of $30.04 and a two-hundred day moving average price of $29.77. The stock has a market cap of $49.56 billion, a P/E ratio of 129.20 and a beta of 1.18. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $34.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. As a group, equities analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling

In other Coupang news, Director Benjamin Sun sold 815,797 shares of the company’s stock in a transaction dated 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 sale, the director owned 503,624 shares in the company, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Pedro Franceschi sold 21,428 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 913,633 shares of company stock valued at $29,143,084 over the last 90 days. 12.78% of the stock is owned by corporate insiders.

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.