State Board of Administration of Florida Retirement System Grows Holdings in Coupang, Inc. $CPNG

State Board of Administration of Florida Retirement System grew its stake in shares of Coupang, Inc. (NYSE:CPNG) by 2.1% in the second quarter, Holdings Channel reports. The firm owned 1,075,627 shares of the company’s stock after acquiring an additional 22,599 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Coupang were worth $32,226,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC boosted its position in Coupang by 3.8% in the 2nd quarter. Elevation Point Wealth Partners LLC now owns 68,474 shares of the company’s stock valued at $2,051,000 after buying an additional 2,498 shares during the period. Choreo LLC increased its position in shares of Coupang by 0.4% during the second quarter. Choreo LLC now owns 212,940 shares of the company’s stock worth $6,380,000 after acquiring an additional 917 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Coupang by 80.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 4,547 shares of the company’s stock valued at $136,000 after acquiring an additional 2,022 shares in the last quarter. Adalta Capital Management LLC boosted its holdings in shares of Coupang by 1.0% in the second quarter. Adalta Capital Management LLC now owns 80,511 shares of the company’s stock valued at $2,412,000 after purchasing an additional 782 shares during the period. Finally, Prudential Financial Inc. grew its stake in Coupang by 1,405.9% in the second quarter. Prudential Financial Inc. now owns 684,110 shares of the company’s stock worth $20,496,000 after purchasing an additional 638,680 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of Coupang stock opened at $28.22 on Friday. The company has a market capitalization of $51.54 billion, a PE ratio of 134.36 and a beta of 1.17. The company has a 50-day simple moving average of $30.57 and a two-hundred day simple moving average of $29.76. Coupang, Inc. has a one year low of $19.02 and a one year high of $34.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.13 billion. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. Research analysts expect that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity

In other news, Director Pedro Franceschi sold 21,428 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total transaction of $686,767.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Harold Rogers sold 64,755 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total value of $2,076,045.30. Following the sale, the insider owned 449,569 shares of the company’s stock, valued at approximately $14,413,182.14. This represents a 12.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 913,633 shares of company stock valued at $29,143,084 over the last three months. Company insiders own 12.78% of the company’s stock.

Analyst Ratings Changes

CPNG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research report on Wednesday, August 6th. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, August 6th. Barclays lifted their price objective on Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Arete assumed coverage on shares of Coupang in a research note on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Nomura Securities raised shares of Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.00.

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.