588,521 Shares in Coupang, Inc. $CPNG Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 588,521 shares of the company’s stock, valued at approximately $10,223,000.

A number of other hedge funds also recently bought and sold shares of the company. Tree Line Advisors Hong Kong Ltd. acquired a new position in shares of Coupang in the second quarter worth about $67,743,000. Flossbach Von Storch SE purchased a new position in shares of Coupang in the second quarter worth approximately $2,084,000. Handelsbanken Fonder AB raised its holdings in shares of Coupang by 10.2% during the second quarter. Handelsbanken Fonder AB now owns 702,968 shares of the company’s stock valued at $12,211,000 after acquiring an additional 64,967 shares during the period. Sapient Capital LLC raised its holdings in shares of Coupang by 2.9% during the second quarter. Sapient Capital LLC now owns 128,526 shares of the company’s stock valued at $2,232,000 after acquiring an additional 3,637 shares during the period. Finally, 180 Wealth Advisors LLC lifted its position in shares of Coupang by 10.3% in the 2nd quarter. 180 Wealth Advisors LLC now owns 39,230 shares of the company’s stock valued at $681,000 after acquiring an additional 3,668 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Harold Rogers sold 192,110 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the transaction, the insider directly owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. This represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.10, for a total value of $88,855.90. Following the sale, the chief accounting officer owned 181,915 shares of the company’s stock, valued at approximately $2,928,831.50. This represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 12.83% of the company’s stock.

Coupang Stock Performance

Shares of CPNG opened at $16.04 on Tuesday. The company has a market capitalization of $28.83 billion, a PE ratio of -37.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87. The company’s 50 day moving average price is $16.84 and its 200 day moving average price is $17.77. Coupang, Inc. has a 52 week low of $14.92 and a 52 week high of $34.08.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.18. The company had revenue of $8.86 billion during the quarter, compared to the consensus estimate of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 EPS. Research analysts expect that Coupang, Inc. will post -0.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CPNG. Citigroup lowered shares of Coupang from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and reduced their target price for the company from $23.00 to $21.50 in a report on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 target price on Coupang in a research report on Thursday, July 9th. Mizuho set a $22.00 price target on Coupang in a report on Wednesday, August 5th. Finally, Barclays reissued an “overweight” rating and set a $29.00 price target on shares of Coupang in a research report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.39.

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.