State Board of Administration of Florida Retirement System Raises Stake in Coupang, Inc. $CPNG

State Board of Administration of Florida Retirement System grew its position in Coupang, Inc. (NYSE:CPNG) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,075,627 shares of the company’s stock after purchasing an additional 22,599 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.06% of Coupang worth $32,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPNG. Sequoia Financial Advisors LLC boosted its holdings in Coupang by 0.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock worth $2,051,000 after buying an additional 363 shares during the period. Inspirion Wealth Advisors LLC raised its holdings in Coupang by 0.3% during the second quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock valued at $4,024,000 after acquiring an additional 400 shares during the period. Thoroughbred Financial Services LLC lifted its position in shares of Coupang by 1.4% in the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock valued at $646,000 after acquiring an additional 408 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its stake in shares of Coupang by 4.3% in the second quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock worth $323,000 after acquiring an additional 461 shares during the period. Finally, Brooklyn Investment Group grew its position in shares of Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Pranam Kolari sold 11,653 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $31.98, for a total transaction of $372,662.94. Following the transaction, the vice president directly owned 147,023 shares in the company, valued at approximately $4,701,795.54. This represents a 7.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 815,797 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director directly owned 503,624 shares in the company, valued at $16,055,533.12. This trade represents a 61.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 913,633 shares of company stock worth $29,143,084. Insiders own 12.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CPNG shares. Mizuho upped their price target on Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Barclays boosted their price target on shares of Coupang from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Arete started coverage on Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research report on Wednesday, August 6th. One research 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 stock. Based on data from MarketBeat.com, Coupang presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Coupang Price Performance

NYSE:CPNG opened at $28.22 on Friday. The firm has a market capitalization of $51.54 billion, a price-to-earnings ratio of 134.36 and a beta of 1.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 0.82. The business has a 50 day simple moving average of $30.57 and a 200-day simple moving average of $29.76. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.13 billion. Coupang had a return on equity of 6.95% and a net margin of 1.16%.The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. Equities analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

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.