Handelsbanken Fonder AB Reduces Stock Position in Coupang, Inc. (NYSE:CPNG)

Handelsbanken Fonder AB reduced its holdings in Coupang, Inc. (NYSE:CPNG) by 19.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 645,495 shares of the company’s stock after selling 153,157 shares during the period. Handelsbanken Fonder AB’s holdings in Coupang were worth $10,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headinvest LLC bought a new stake in shares of Coupang in the 3rd quarter worth about $29,000. NBC Securities Inc. bought a new stake in shares of Coupang in the 3rd quarter worth about $51,000. Deuterium Capital Management LLC bought a new stake in shares of Coupang in the 3rd quarter worth about $170,000. Orion Portfolio Solutions LLC bought a new stake in shares of Coupang in the 3rd quarter worth about $172,000. Finally, Resonant Capital Advisors LLC bought a new stake in shares of Coupang in the 3rd quarter worth about $173,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CPNG shares. TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and lifted their price objective for the company from $18.50 to $21.00 in a report on Thursday, February 29th. Barclays lifted their price objective on shares of Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Citigroup upgraded shares of Coupang from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $19.00 to $26.00 in a report on Monday, April 15th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.42.

Insider Transactions at Coupang

In other news, Director Neil Mehta sold 1,600,000 shares of Coupang stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $18.68, for a total value of $29,888,000.00. Following the transaction, the director now owns 48,006,135 shares of the company’s stock, valued at approximately $896,754,601.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the transaction, the insider now owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Neil Mehta sold 1,600,000 shares of Coupang stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the completion of the transaction, the director now directly owns 48,006,135 shares in the company, valued at approximately $896,754,601.80. The disclosure for this sale can be found here. Insiders have sold a total of 33,355,590 shares of company stock valued at $633,443,979 in the last 90 days. Insiders own 14.90% of the company’s stock.

Coupang Trading Up 0.3 %

NYSE:CPNG opened at $22.80 on Thursday. Coupang, Inc. has a one year low of $13.51 and a one year high of $22.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. The firm has a market cap of $40.88 billion, a P/E ratio of 30.39 and a beta of 1.32. The firm has a 50-day simple moving average of $18.70 and a 200-day simple moving average of $16.92.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the previous year, the business posted $0.06 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities analysts anticipate that Coupang, Inc. will post 0.32 EPS for the current fiscal year.

Coupang 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.