Penserra Capital Management LLC increased its holdings in shares of Coupang, Inc. (NYSE:CPNG – Free Report) by 13.6% during the second quarter, HoldingsChannel.com reports. The fund owned 824,776 shares of the company’s stock after buying an additional 98,636 shares during the period. Penserra Capital Management LLC’s holdings in Coupang were worth $14,350,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Coupang by 10.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,593 shares of the company’s stock worth $313,000 after acquiring an additional 1,793 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Coupang during the second quarter worth about $560,000. California Public Employees Retirement System boosted its position in Coupang by 24.4% during the second quarter. California Public Employees Retirement System now owns 1,952,214 shares of the company’s stock worth $33,969,000 after acquiring an additional 383,157 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Coupang by 13.4% during the first quarter. Bank of New York Mellon Corp now owns 531,448 shares of the company’s stock worth $8,503,000 after acquiring an additional 63,001 shares during the last quarter. Finally, Howland Capital Management LLC boosted its position in Coupang by 4.0% during the first quarter. Howland Capital Management LLC now owns 52,540 shares of the company’s stock worth $841,000 after acquiring an additional 2,000 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the stock. Barclays boosted their target price on shares of Coupang from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. TheStreet cut shares of Coupang from a “c-” rating to a “d+” rating in a research note on Wednesday, November 8th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a research note on Wednesday, August 9th. Mizuho increased their price target on shares of Coupang from $20.00 to $22.00 in a research note on Wednesday, August 9th. Finally, Bank of America increased their price target on shares of Coupang from $19.00 to $22.00 in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Coupang presently has an average rating of “Moderate Buy” and an average target price of $22.50.
Insider Buying and Selling
In related news, insider Tae Jung Kim sold 4,673 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $16.95, for a total transaction of $79,207.35. Following the completion of the transaction, the insider now owns 254,530 shares of the company’s stock, valued at approximately $4,314,283.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.90% of the stock is currently owned by corporate insiders.
Coupang Trading Down 0.2 %
Shares of NYSE:CPNG traded down $0.04 during mid-day trading on Tuesday, reaching $16.30. 948,295 shares of the company were exchanged, compared to its average volume of 7,545,910. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.14 and a quick ratio of 0.89. The firm has a market cap of $29.14 billion, a price-to-earnings ratio of 68.08 and a beta of 1.38. The firm’s 50-day simple moving average is $17.09 and its 200 day simple moving average is $17.26. Coupang, Inc. has a 1 year low of $12.66 and a 1 year high of $20.15.
Coupang (NYSE:CPNG – Get Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Coupang had a return on equity of 16.09% and a net margin of 1.86%. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. Equities research analysts forecast that Coupang, Inc. will post 0.28 EPS for the current year.
Coupang, Inc, together with its subsidiaries owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. The company operates through two segments, Product Commerce and Developing Offerings. 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.
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