Cohen Capital Management Inc. Has $4.29 Million Stock Position in Coupang, Inc. (NYSE:CPNG)

Cohen Capital Management Inc. raised its holdings in Coupang, Inc. (NYSE:CPNG) by 45.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 240,978 shares of the company’s stock after acquiring an additional 75,033 shares during the quarter. Cohen Capital Management Inc.’s holdings in Coupang were worth $4,287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its position in shares of Coupang by 15.9% during the first quarter. Baillie Gifford & Co. now owns 168,600,998 shares of the company’s stock worth $2,999,412,000 after buying an additional 23,076,870 shares during the period. WCM Investment Management LLC increased its position in shares of Coupang by 2,250.9% during the first quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock worth $799,242,000 after buying an additional 43,015,433 shares during the period. Norges Bank acquired a new stake in shares of Coupang during the fourth quarter worth $250,714,000. Sands Capital Management LLC increased its position in shares of Coupang by 0.7% during the fourth quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock worth $233,793,000 after buying an additional 98,043 shares during the period. Finally, Foxhaven Asset Management LP increased its position in shares of Coupang by 8.0% during the fourth quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock worth $198,690,000 after buying an additional 904,065 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coupang

In related news, Director Benjamin Sun sold 700,000 shares of the firm’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 directly owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Greenoaks Capital Partners Llc acquired 500,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $22.06 per share, for a total transaction of $11,030,000.00. Following the completion of the acquisition, the director now owns 48,626,374 shares of the company’s stock, valued at approximately $1,072,697,810.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin Sun sold 700,000 shares of the firm’s 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 sale, the director now 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 valued at $15,662,818 over the last ninety days. Corporate insiders own 13.60% of the company’s stock.

Coupang Stock Up 1.2 %

Shares of Coupang stock traded up $0.25 during trading hours on Thursday, reaching $21.62. The company’s stock had a trading volume of 6,699,577 shares, compared to its average volume of 11,446,365. Coupang, Inc. has a one year low of $13.51 and a one year high of $23.77. The company has a market capitalization of $38.66 billion, a P/E ratio of 30.89, a P/E/G ratio of 45.75 and a beta of 1.09. The stock’s fifty day simple moving average is $21.92 and its two-hundred day simple moving average is $19.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 1.15.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share 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 during the quarter, compared to the consensus estimate of $6.95 billion. During the same period last year, the business posted $0.05 earnings per share. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. On average, research analysts forecast that Coupang, Inc. will post 0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several recent analyst reports. Mizuho increased their price objective 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. Barclays increased their target price on shares of Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Bank of America assumed coverage on shares of Coupang in a research note on Friday, May 3rd. They set a “buy” rating and a $30.00 target price on the stock. Morgan Stanley increased their target price on shares of Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Finally, Citigroup increased their target price on shares of Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. One investment 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 stock has an average rating of “Moderate Buy” and an average price target 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.