Canada Pension Plan Investment Board Has $19.24 Million Stake in Coupang, Inc. $CPNG

Canada Pension Plan Investment Board grew its stake in Coupang, Inc. (NYSE:CPNG) by 298.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 877,486 shares of the company’s stock after buying an additional 657,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Coupang were worth $19,243,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. SVB Wealth LLC acquired a new stake in Coupang in the 1st quarter worth approximately $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Coupang in the first quarter worth $30,000. Grove Bank & Trust bought a new stake in shares of Coupang during the 1st quarter worth $33,000. Brooklyn Investment Group grew its stake in Coupang by 43.1% in the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Coupang by 600.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company’s stock valued at $55,000 after buying an additional 2,149 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of NYSE CPNG opened at $28.59 on Tuesday. The firm has a market capitalization of $52.11 billion, a price-to-earnings ratio of 142.94 and a beta of 1.15. Coupang, Inc. has a one year low of $19.02 and a one year high of $31.65. The business has a fifty day simple moving average of $29.49 and a 200 day simple moving average of $26.32. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The business had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. During the same period last year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. Sell-side analysts expect that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.25, for a total transaction of $282,500,000.00. Following the completion of the transaction, the insider owned 309,542,259 shares in the company, valued at $8,744,568,816.75. This trade represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gaurav Anand sold 75,350 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the sale, the chief financial officer owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. This represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,087,003 shares of company stock valued at $284,933,545 over the last quarter. Corporate insiders own 12.78% of the company’s stock.

Analysts Set New Price Targets

CPNG has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Barclays increased their target price on Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Nomura raised Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, August 6th. Wall Street Zen lowered Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.13.

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.