Allspring Global Investments Holdings LLC Has $1.93 Million Stock Position in Coupang, Inc. (NYSE:CPNG)

Allspring Global Investments Holdings LLC reduced its position in shares of Coupang, Inc. (NYSE:CPNG) by 15.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,453 shares of the company’s stock after selling 20,433 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Coupang were worth $1,929,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC grew its stake in Coupang by 26.3% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 15,994 shares of the company’s stock valued at $272,000 after buying an additional 3,334 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Coupang during the third quarter worth approximately $4,081,000. Ameriprise Financial Inc. lifted its holdings in Coupang by 25.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,054,223 shares of the company’s stock worth $51,922,000 after purchasing an additional 616,210 shares during the last quarter. Sands Capital Management LLC grew its holdings in Coupang by 5.2% in the 3rd quarter. Sands Capital Management LLC now owns 14,342,509 shares of the company’s stock valued at $243,823,000 after buying an additional 709,867 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in Coupang by 3.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 432,036 shares of the company’s stock valued at $7,342,000 after buying an additional 15,088 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPNG has been the topic of a number of recent research reports. Mizuho raised their price target on shares of Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Citigroup upped their price objective on Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Barclays raised their price target on shares of Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Morgan Stanley raised their target price on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Finally, Bank of America initiated coverage on Coupang in a report on Friday, May 3rd. They set a “buy” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

Coupang Stock Down 0.8 %

Shares of NYSE:CPNG opened at $20.91 on Wednesday. The business has a fifty day simple moving average of $22.11 and a 200 day simple moving average of $18.85. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $23.77. The firm has a market cap of $37.39 billion, a P/E ratio of 29.87, a P/E/G ratio of 44.76 and a beta of 1.09. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.67.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $6.95 billion. Coupang had a net margin of 4.96% and a return on equity of 13.59%. The business’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. Analysts predict that Coupang, Inc. will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In other Coupang news, Director Benjamin Sun sold 700,000 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the completion of the sale, the director now directly owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Coupang news, insider Pranam Kolari sold 2,048 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the sale, the insider now directly owns 187,951 shares in the company, valued at $4,198,825.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the transaction, the director now owns 2,169,421 shares in the company, 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 quarter. Insiders own 13.60% of the company’s stock.

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.