North Dakota State Investment Board Makes New $1.77 Million Investment in Coupang, Inc. $CPNG

North Dakota State Investment Board bought a new position in shares of Coupang, Inc. (NYSE:CPNG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 74,981 shares of the company’s stock, valued at approximately $1,769,000.

Several other hedge funds also recently bought and sold shares of CPNG. Sunbelt Securities Inc. purchased a new position in Coupang during the third quarter worth about $26,000. Orion Capital Management LLC purchased a new position in Coupang during the third quarter worth about $32,000. Fifth Third Bancorp boosted its stake in Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares during the period. Root Financial Partners LLC purchased a new position in Coupang during the third quarter worth about $40,000. Finally, Colonial Trust Advisors acquired a new stake in shares of Coupang during the third quarter worth about $48,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CPNG. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. UBS Group set a $25.00 price target on shares of Coupang in a research report on Thursday, February 19th. Mizuho reduced their price target on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Wall Street Zen cut shares of Coupang from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.92.

Insiders Place Their Bets

In other news, Director Neil Mehta bought 2,332,863 shares of Coupang stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $18.40 per share, with a total value of $42,924,679.20. Following the completion of the acquisition, the director directly owned 55,310,977 shares in the company, valued at $1,017,721,976.80. The trade was a 4.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 7,350,104 shares of company stock valued at $136,566,051 over the last 90 days. 12.78% of the stock is owned by company insiders.

Coupang Stock Down 2.8%

Shares of NYSE:CPNG opened at $15.26 on Wednesday. The firm’s 50 day moving average price is $19.06 and its 200 day moving average price is $21.75. The stock has a market cap of $27.39 billion, a price-to-earnings ratio of -169.51 and a beta of 1.20. Coupang, Inc. has a fifty-two week low of $15.11 and a fifty-two week high of $34.08. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. As a group, equities research analysts predict that Coupang, Inc. will post -0.17 earnings per share for the current fiscal year.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.