Illinois Municipal Retirement Fund Acquires New Holdings in Coupang, Inc. (NYSE:CPNG)

Illinois Municipal Retirement Fund acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 32,544 shares of the company’s stock, valued at approximately $714,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPNG. New York Life Investment Management LLC bought a new position in Coupang during the fourth quarter valued at approximately $349,000. Proficio Capital Partners LLC bought a new position in Coupang during the fourth quarter valued at approximately $854,000. SBI Securities Co. Ltd. bought a new position in Coupang during the fourth quarter valued at approximately $124,000. Charles Schwab Investment Management Inc. raised its position in Coupang by 20.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 913,789 shares of the company’s stock valued at $20,085,000 after acquiring an additional 154,503 shares in the last quarter. Finally, Keybank National Association OH bought a new position in Coupang during the fourth quarter valued at approximately $360,000. Institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

CPNG has been the topic of several recent research reports. Mizuho raised shares of Coupang to a “hold” rating in a research report on Friday, April 18th. Wall Street Zen downgraded Coupang from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Barclays increased their price target on Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Coupang currently has an average rating of “Moderate Buy” and an average target price of $30.08.

Coupang Trading Up 0.3%

Shares of CPNG stock opened at $30.02 on Thursday. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $30.91. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $27.26 and its two-hundred day moving average is $24.32. The company has a market cap of $54.50 billion, a PE ratio of 214.43 and a beta of 1.16.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a net margin of 0.82% and a return on equity of 10.07%. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. The company’s revenue was up 11.2% compared to the same quarter last year. Equities analysts predict that Coupang, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Gaurav Anand sold 175,000 shares of the firm’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total value of $4,919,250.00. Following the sale, the chief financial officer owned 2,092,290 shares in the company, valued at approximately $58,814,271.90. This trade represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the completion of the sale, the director owned 1,319,421 shares in the company, valued at approximately $37,418,779.56. The trade was a 13.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,459,697 shares of company stock valued at $1,067,780,811 in the last 90 days. 12.78% of the stock is currently owned by corporate insiders.

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.