The Manufacturers Life Insurance Company Raises Stake in Coupang, Inc. (NYSE:CPNG)

The Manufacturers Life Insurance Company grew its stake in shares of Coupang, Inc. (NYSE:CPNG) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,205 shares of the company’s stock after purchasing an additional 1,438 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Coupang were worth $1,499,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CPNG. Harbour Capital Advisors LLC lifted its stake in Coupang by 21.0% in the fourth quarter. Harbour Capital Advisors LLC now owns 28,650 shares of the company’s stock worth $642,000 after acquiring an additional 4,975 shares during the period. 180 Wealth Advisors LLC lifted its stake in Coupang by 2.7% in the fourth quarter. 180 Wealth Advisors LLC now owns 33,683 shares of the company’s stock worth $740,000 after acquiring an additional 896 shares during the period. Ignite Planners LLC raised its holdings in Coupang by 2.5% in the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after purchasing an additional 483 shares in the last quarter. Oak Thistle LLC bought a new position in Coupang in the fourth quarter worth about $1,651,000. Finally, Assenagon Asset Management S.A. raised its holdings in Coupang by 85.4% in the fourth 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. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Price Performance

Shares of NYSE CPNG opened at $26.15 on Tuesday. The business’s 50 day moving average price is $22.66 and its 200 day moving average price is $23.41. The firm has a market cap of $47.20 billion, a P/E ratio of 45.87, a P/E/G ratio of 52.20 and a beta of 1.08. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $27.03. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $8.02 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on CPNG. Mizuho upgraded shares of Coupang to a “hold” rating in a report on Friday, April 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price for the company in a report on Wednesday, February 26th. Finally, Barclays boosted their target price on shares of Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.19.

Insider Activity at Coupang

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This represents a 12.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total value of $772,500,000.00. Following the completion of the sale, the insider now owns 319,542,259 shares in the company, valued at approximately $8,228,213,169.25. This represents a 8.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,259,347 shares of company stock worth $778,580,426 over the last quarter. 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.