Ninety One UK Ltd Has $69.97 Million Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Ninety One UK Ltd increased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 51.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,190,434 shares of the company’s stock after buying an additional 1,079,958 shares during the period. Ninety One UK Ltd owned about 0.18% of Coupang worth $69,966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BOCHK Asset Management Ltd acquired a new position in Coupang during the first quarter worth $70,000. Cloud Capital Management LLC bought a new position in Coupang during the first quarter worth about $93,000. Bank of New York Mellon Corp lifted its holdings in shares of Coupang by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 2,941,758 shares of the company’s stock worth $64,513,000 after buying an additional 111,556 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in Coupang by 10.0% in the first quarter. OneDigital Investment Advisors LLC now owns 30,001 shares of the company’s stock valued at $658,000 after purchasing an additional 2,737 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in Coupang by 7.5% in the first quarter. D.A. Davidson & CO. now owns 134,958 shares of the company’s stock valued at $2,960,000 after purchasing an additional 9,419 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, Director Benjamin Sun sold 200,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total value of $5,672,000.00. Following the completion of the sale, the director directly owned 1,319,421 shares of the company’s stock, valued at approximately $37,418,779.56. This represents a 13.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Greenoaks Capital Partners Llc bought 650,000 shares of Coupang stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $26.86 per share, with a total value of $17,459,000.00. Following the completion of the acquisition, the director directly owned 55,131,161 shares in the company, valued at $1,480,822,984.46. This represents a 1.19% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 40,459,697 shares of company stock worth $1,067,780,811 in the last ninety days. Corporate insiders own 12.78% of the company’s stock.

Coupang Price Performance

NYSE CPNG opened at $30.01 on Tuesday. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $30.91. The firm has a market capitalization of $54.49 billion, a P/E ratio of 214.36 and a beta of 1.16. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $27.67 and a 200-day moving average price of $24.49.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, June 29th. Mizuho raised Coupang to a “hold” rating in a research report on Friday, April 18th. Finally, Barclays upped their price target on shares of Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.08.

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.