Weiss Asset Management LP Buys Shares of 14,860 Coupang, Inc. (NYSE:CPNG)

Weiss Asset Management LP bought a new stake in Coupang, Inc. (NYSE:CPNG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 14,860 shares of the company’s stock, valued at approximately $241,000.

A number of other institutional investors also recently bought and sold shares of CPNG. Baillie Gifford & Co. lifted its holdings in Coupang by 21.6% in the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock valued at $2,356,036,000 after acquiring an additional 25,843,034 shares during the period. Norges Bank bought a new position in shares of Coupang in the fourth quarter worth about $250,714,000. Pacer Advisors Inc. raised its stake in shares of Coupang by 104,032.2% in the fourth quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company’s stock worth $177,188,000 after buying an additional 10,933,789 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Coupang in the fourth quarter worth about $14,854,000. Finally, Bwcp LP bought a new position in shares of Coupang in the third quarter worth about $12,569,000. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Up 2.7 %

Shares of CPNG traded up $0.61 during trading hours on Thursday, hitting $23.45. The company had a trading volume of 5,526,332 shares, compared to its average volume of 12,620,745. The company has a market capitalization of $41.93 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 40.91 and a beta of 1.13. 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 one year low of $13.51 and a one year high of $23.77. The company’s fifty day moving average price is $21.14 and its two-hundred day moving average price is $17.89.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coupang had a return on equity of 13.59% and a net margin of 4.96%. The business had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $6.95 billion. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, equities analysts forecast that Coupang, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CPNG. UBS Group raised Coupang from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $18.50 to $26.00 in a research note on Thursday, May 16th. TheStreet upgraded Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and lifted their target price for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. Barclays lifted their target price on Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Finally, Bank of America assumed coverage on Coupang in a research note on Friday, May 3rd. They set a “buy” rating and a $30.00 price target for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Coupang has an average rating of “Moderate Buy” and an average price target of $26.67.

Insider Activity at Coupang

In other Coupang news, insider Pranam Kolari sold 6,490 shares of Coupang stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $22.93, for a total transaction of $148,815.70. Following the completion of the transaction, the insider now owns 181,461 shares in the company, valued at approximately $4,160,900.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Greenoaks Capital Partners Llc purchased 500,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $22.06 per share, for a total transaction of $11,030,000.00. Following the completion of the transaction, the director now owns 48,626,374 shares in the company, valued at $1,072,697,810.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pranam Kolari sold 6,490 shares of Coupang stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $22.93, for a total value of $148,815.70. Following the completion of the transaction, the insider now owns 181,461 shares of the company’s stock, valued at approximately $4,160,900.73. The disclosure for this sale can be found here. Insiders sold 33,366,772 shares of company stock worth $633,713,096 over the last three months. Company 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.