Kentucky Retirement Systems Insurance Trust Fund Acquires New Stake in Coupang, Inc. (NYSE:CPNG)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Coupang, Inc. (NYSE:CPNG) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 33,678 shares of the company’s stock, valued at approximately $739,000.

Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Coupang by 29.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock valued at $1,663,594,000 after buying an additional 17,123,637 shares during the period. FMR LLC increased its stake in Coupang by 9.1% in the 4th quarter. FMR LLC now owns 29,619,581 shares of the company’s stock valued at $651,038,000 after buying an additional 2,465,973 shares during the period. Durable Capital Partners LP grew its stake in shares of Coupang by 13.6% during the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company’s stock worth $629,426,000 after purchasing an additional 3,420,133 shares during the period. Dragoneer Investment Group LLC grew its stake in shares of Coupang by 9.0% during the 4th quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company’s stock worth $451,497,000 after purchasing an additional 1,690,826 shares during the period. Finally, Dodge & Cox grew its stake in shares of Coupang by 0.6% during the 4th quarter. Dodge & Cox now owns 20,229,320 shares of the company’s stock worth $444,640,000 after purchasing an additional 123,900 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coupang

In related news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $28.25, for a total value of $282,500,000.00. Following the transaction, the insider now owns 309,542,259 shares in the company, valued at approximately $8,744,568,816.75. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Benjamin Sun sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the completion of the transaction, the director now owns 1,319,421 shares in the company, valued at $37,418,779.56. The trade was a 13.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,459,697 shares of company stock worth $1,067,780,811. Corporate insiders own 12.78% of the company’s stock.

Coupang Price Performance

Shares of NYSE CPNG opened at $28.93 on Wednesday. The stock has a market cap of $52.53 billion, a price-to-earnings ratio of 206.67 and a beta of 1.15. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $29.14. The company’s 50-day moving average price is $26.26 and its 200 day moving average price is $24.07. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. Coupang had a net margin of 0.82% and a return on equity of 10.07%. Coupang’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a research note on Wednesday, February 26th. Wall Street Zen raised shares of Coupang from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays upped their price target on shares of Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Finally, Mizuho raised shares of Coupang to a “hold” rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.64.

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.