Handelsbanken Fonder AB Has $15.46 Million Stake in Coupang, Inc. $CPNG

Handelsbanken Fonder AB trimmed its stake in shares of Coupang, Inc. (NYSE:CPNG) by 10.6% during the fourth quarter, HoldingsChannel reports. The fund owned 655,352 shares of the company’s stock after selling 77,566 shares during the period. Handelsbanken Fonder AB’s holdings in Coupang were worth $15,460,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Coupang in the third quarter valued at $26,000. Orion Capital Management LLC bought a new position in Coupang in the third quarter valued at $32,000. Fifth Third Bancorp grew its position in Coupang by 1,250.0% in the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Root Financial Partners LLC bought a new position in Coupang in the third quarter valued at $40,000. Finally, Colonial Trust Advisors bought a new position in Coupang in the third quarter valued at $48,000. Institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CPNG. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Wednesday, May 6th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Barclays raised their target price on shares of Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Mizuho decreased their target price on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Finally, Morgan Stanley decreased their target price on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Four 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. According to MarketBeat.com, Coupang has a consensus rating of “Hold” and an average target price of $26.92.

Coupang Stock Performance

Shares of CPNG opened at $15.63 on Thursday. The firm has a 50-day moving average of $19.00 and a 200-day moving average of $21.64. Coupang, Inc. has a one year low of $15.03 and a one year high of $34.08. The company has a market cap of $28.05 billion, a PE ratio of -173.59 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76.

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

Insider Activity at Coupang

In related news, Director Neil Mehta bought 2,332,863 shares of Coupang stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $18.40 per share, with a total value of $42,924,679.20. Following the acquisition, the director owned 55,310,977 shares of the company’s stock, valued at approximately $1,017,721,976.80. This represents a 4.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 7,350,104 shares of company stock worth $136,566,051. 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.