NWI Management LP Buys 500,000 Shares of Coupang, Inc. (NYSE:CPNG)

NWI Management LP raised its stake in Coupang, Inc. (NYSE:CPNG) by 100.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,000,000 shares of the company’s stock after acquiring an additional 500,000 shares during the period. Coupang comprises about 0.5% of NWI Management LP’s investment portfolio, making the stock its 13th largest position. NWI Management LP’s holdings in Coupang were worth $17,790,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC grew its position in shares of Coupang by 135.8% in the 1st quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock valued at $26,000 after buying an additional 827 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of Coupang during the 1st quarter valued at about $50,000. Acadian Asset Management LLC boosted its position in shares of Coupang by 438.7% during the 1st quarter. Acadian Asset Management LLC now owns 5,581 shares of the company’s stock valued at $99,000 after purchasing an additional 4,545 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Coupang by 16.4% during the 1st quarter. Advisors Asset Management Inc. now owns 8,236 shares of the company’s stock valued at $147,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Optimum Investment Advisors bought a new stake in shares of Coupang during the 1st quarter valued at about $148,000. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group upgraded Coupang from a “neutral” rating to a “buy” rating and upped their target price for the company from $18.50 to $26.00 in a research report on Thursday, May 16th. Mizuho increased their price target on Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Barclays increased their price target on Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Bank of America started coverage on Coupang in a report on Friday, May 3rd. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Morgan Stanley increased their price target on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.71.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 700,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the completion of the transaction, the director now directly owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Hanseung Kang sold 40,000 shares of Coupang stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $23.00, for a total transaction of $920,000.00. Following the completion of the sale, the director now owns 544,478 shares of the company’s stock, valued at $12,522,994. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Sun sold 700,000 shares of Coupang stock in a transaction on Monday, June 17th. The shares were sold at an average price of $20.63, for a total value of $14,441,000.00. Following the sale, the director now directly owns 2,169,421 shares of the company’s stock, valued at approximately $44,755,155.23. The disclosure for this sale can be found here. Insiders sold 753,538 shares of company stock valued at $15,662,818 over the last three months. Company insiders own 13.60% of the company’s stock.

Coupang Stock Performance

Shares of CPNG traded up $0.39 on Friday, reaching $20.18. 9,692,080 shares of the company’s stock traded hands, compared to its average volume of 5,708,531. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67. The stock has a market cap of $36.08 billion, a PE ratio of 28.83, a PEG ratio of 1,998.02 and a beta of 1.09. The stock’s 50 day simple moving average is $21.49 and its two-hundred day simple moving average is $19.46. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $23.77.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coupang had a net margin of 4.96% and a return on equity of 13.59%. The business had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $6.95 billion. During the same period in the previous year, the business posted $0.05 earnings per share. The business’s revenue was up 22.6% compared to the same quarter last year. On average, analysts forecast that Coupang, Inc. will post 0.01 earnings per share for the current fiscal year.

Coupang Company 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.