Coupang, Inc. (NYSE:CPNG) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its stake in shares of Coupang, Inc. (NYSE:CPNG) by 16.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,882 shares of the company’s stock after selling 4,768 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Coupang were worth $443,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CPNG. American Century Companies Inc. boosted its stake in shares of Coupang by 977.9% during the third quarter. American Century Companies Inc. now owns 415,808 shares of the company’s stock valued at $7,069,000 after acquiring an additional 377,232 shares during the last quarter. Headinvest LLC acquired a new stake in shares of Coupang during the 3rd quarter worth about $29,000. Vanguard Group Inc. grew its holdings in shares of Coupang by 3.6% during the third quarter. Vanguard Group Inc. now owns 4,309,204 shares of the company’s stock worth $73,256,000 after buying an additional 148,738 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of Coupang during the fourth quarter worth about $203,000. Finally, Renaissance Capital LLC raised its position in shares of Coupang by 26.2% in the fourth quarter. Renaissance Capital LLC now owns 700,046 shares of the company’s stock valued at $11,334,000 after buying an additional 145,340 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Up 1.2 %

Shares of Coupang stock opened at $21.62 on Friday. The company has a fifty day moving average price of $21.92 and a 200 day moving average price of $19.07. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $23.77. The stock has a market cap of $38.66 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 45.75 and a beta of 1.09.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $7.11 billion during the quarter, compared to analyst estimates of $6.95 billion. Coupang had a net margin of 4.96% and a return on equity of 13.59%. Coupang’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. Equities research analysts forecast that Coupang, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 transaction of $14,441,000.00. Following the sale, the director now owns 2,169,421 shares of the company’s stock, valued at approximately $44,755,155.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Pranam Kolari sold 2,048 shares of the business’s stock in a transaction dated 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 owns 187,951 shares of the company’s stock, valued at approximately $4,198,825.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin Sun sold 700,000 shares of Coupang stock in a transaction on 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 transaction, 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 have sold 753,538 shares of company stock worth $15,662,818 over the last 90 days. Company insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Coupang

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.