North Dakota State Investment Board Makes New $1.77 Million Investment in Coupang, Inc. $CPNG

North Dakota State Investment Board bought a new position in shares of Coupang, Inc. (NYSE:CPNG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 74,981 shares of the company’s stock, valued at approximately $1,769,000.

Other large investors have also modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in shares of Coupang during the third quarter worth $26,000. Orion Capital Management LLC purchased a new stake in shares of Coupang during the third quarter worth $32,000. Fifth Third Bancorp grew its holdings in shares of Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Coupang during the third quarter worth $40,000. Finally, Colonial Trust Advisors purchased a new stake in shares of Coupang during the third quarter worth $48,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 2.8%

Shares of CPNG opened at $15.26 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. Coupang, Inc. has a 12-month low of $15.11 and a 12-month high of $34.08. The firm has a 50-day moving average price of $19.06 and a 200 day moving average price of $21.75. The firm has a market capitalization of $27.39 billion, a P/E ratio of -169.51 and a beta of 1.20.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same period in the prior year, the company posted $0.06 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Sell-side analysts forecast that Coupang, Inc. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CPNG shares. UBS Group set a $25.00 target price on shares of Coupang in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a report on Wednesday, May 6th. Weiss Ratings lowered shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Nomura dropped their target price on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Finally, Wall Street Zen lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.92.

Insiders Place Their Bets

In related news, Director Neil Mehta bought 3,000,000 shares of the stock in a transaction on Thursday, March 12th. The stock was bought at an average price of $18.68 per share, with a total value of $56,040,000.00. Following the completion of the purchase, the director directly owned 52,978,114 shares in the company, valued at $989,631,169.52. This represents a 6.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 7,350,104 shares of company stock worth $136,566,051 over the last ninety days. Company insiders own 12.78% of the company’s stock.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.