Avanza Fonder AB Takes $2.73 Million Position in Coupang, Inc. (NYSE:CPNG)

Avanza Fonder AB acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 124,139 shares of the company's stock, valued at approximately $2,729,000.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Coupang by 85.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock worth $24,182,000 after purchasing an additional 506,622 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Coupang by 2.9% during the third quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company's stock valued at $21,706,000 after acquiring an additional 24,553 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Coupang by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company's stock worth $18,640,000 after acquiring an additional 138,416 shares during the period. abrdn plc boosted its position in Coupang by 40.2% in the third quarter. abrdn plc now owns 202,359 shares of the company's stock worth $4,968,000 after purchasing an additional 58,060 shares during the last quarter. Finally, Plotkin Financial Advisors LLC purchased a new stake in shares of Coupang during the 3rd quarter valued at $491,000. Institutional investors own 83.72% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CPNG shares. Citigroup cut their price target on shares of Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Sanford C. Bernstein upgraded Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 price objective on the stock in a research note on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Coupang presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.56.

Insiders Place Their Bets

In other news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the stock in a transaction on Friday, November 8th. The shares were acquired at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the completion of the transaction, the director now directly owns 52,038,723 shares of the company's stock, valued at approximately $1,249,449,739.23. This trade represents a 1.46 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total value of $344,550,000.00. Following the sale, the chief executive officer now directly owns 2,000,000 shares of the company's stock, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company's stock.

Coupang Stock Performance

Coupang stock traded down $0.24 during mid-day trading on Friday, reaching $22.09. The company's stock had a trading volume of 5,495,026 shares, compared to its average volume of 5,054,672. The company has a market capitalization of $39.73 billion, a P/E ratio of 38.75, a PEG ratio of 34.64 and a beta of 1.10. The firm's fifty day moving average price is $23.46 and its two-hundred day moving average price is $23.28. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same period in the previous year, the company posted $0.05 EPS. The firm's revenue for the quarter was up 27.2% compared to the same quarter last year. Sell-side analysts predict that Coupang, Inc. will post 0.11 EPS 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.