Legal & General Group Plc Grows Stake in Coupang, Inc. $CPNG

Legal & General Group Plc boosted its position in Coupang, Inc. (NYSE:CPNG) by 11.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,385,089 shares of the company’s stock after purchasing an additional 460,623 shares during the period. Legal & General Group Plc owned about 0.24% of Coupang worth $103,444,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new position in Coupang in the 3rd quarter valued at approximately $26,000. Fifth Third Bancorp increased its stake in Coupang by 1,250.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Colonial Trust Advisors purchased a new position in Coupang in the 3rd quarter valued at approximately $48,000. Cornerstone Planning Group LLC grew its holdings in Coupang by 151.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company’s stock valued at $50,000 after buying an additional 935 shares during the last quarter. Finally, LGT Financial Advisors LLC acquired a new stake in Coupang during the 3rd quarter valued at $52,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CPNG shares. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $22.20 in a report on Wednesday, May 6th. Nomura cut their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Wall Street Zen cut Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Finally, Barclays boosted their price target on Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Coupang presently has an average rating of “Hold” and a consensus target price of $26.92.

Insider Transactions at Coupang

In related news, Director Neil Mehta acquired 2,332,863 shares of Coupang stock in a transaction on Friday, March 13th. The shares were bought at an average price of $18.40 per share, for a total transaction of $42,924,679.20. Following the completion of the purchase, the director directly owned 55,310,977 shares in the company, valued at $1,017,721,976.80. This trade represents a 4.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought a total of 7,350,104 shares of company stock worth $136,566,051 over the last ninety days. 12.78% of the stock is currently owned by insiders.

Coupang Price Performance

CPNG stock opened at $16.19 on Friday. The stock has a 50-day moving average price of $18.60 and a two-hundred day moving average price of $21.02. Coupang, Inc. has a 12-month low of $15.03 and a 12-month high of $34.08. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The company has a market cap of $29.05 billion, a PE ratio of -179.81 and a beta of 1.20.

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

Coupang Profile

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.