Coupang, Inc. (NYSE:CPNG) Shares Purchased by Raymond James & Associates

Raymond James & Associates increased its stake in shares of Coupang, Inc. (NYSE:CPNG) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 87,812 shares of the company’s stock after purchasing an additional 1,031 shares during the period. Raymond James & Associates’ holdings in Coupang were worth $1,422,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CPNG. Bank of New York Mellon Corp raised its holdings in Coupang by 140.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,035,866 shares of the company’s stock valued at $18,315,000 after acquiring an additional 605,499 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Coupang by 111.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,878 shares of the company’s stock valued at $422,000 after acquiring an additional 12,562 shares during the last quarter. HighTower Advisors LLC raised its holdings in Coupang by 27.0% in the 1st quarter. HighTower Advisors LLC now owns 81,147 shares of the company’s stock valued at $1,435,000 after acquiring an additional 17,248 shares during the last quarter. Citigroup Inc. raised its holdings in Coupang by 75.8% in the 1st quarter. Citigroup Inc. now owns 78,576 shares of the company’s stock valued at $1,389,000 after acquiring an additional 33,890 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Coupang by 11.4% in the 1st quarter. Vontobel Holding Ltd. now owns 67,674 shares of the company’s stock valued at $1,267,000 after acquiring an additional 6,941 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Performance

NYSE:CPNG opened at $22.01 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. The stock has a market capitalization of $39.47 billion, a P/E ratio of 29.35 and a beta of 1.32. The company has a 50 day moving average price of $18.23 and a 200 day moving average price of $16.80. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $22.89.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 5.57% and a return on equity of 15.04%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $0.06 EPS. Equities research analysts forecast that Coupang, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the completion of the transaction, the insider now owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the completion of the transaction, the insider now owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The sale was disclosed in a filing 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 that occurred on Thursday, March 14th. The shares were 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 approximately $896,754,601.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,355,590 shares of company stock valued at $633,443,979. Company insiders own 14.90% of the company’s stock.

Analyst Ratings Changes

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

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.