Sumitomo Mitsui Trust Group Inc. Buys 1,135 Shares of Coupang, Inc. (NYSE:CPNG)

Sumitomo Mitsui Trust Group Inc. grew its stake in Coupang, Inc. (NYSE:CPNG) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 374,807 shares of the company’s stock after acquiring an additional 1,135 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Coupang were worth $9,202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CPNG. Price T Rowe Associates Inc. MD increased its stake in shares of Coupang by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock valued at $1,403,015,000 after acquiring an additional 18,894,909 shares during the last quarter. Coronation Fund Managers Ltd. increased its stake in Coupang by 139.1% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after purchasing an additional 2,802,325 shares in the last quarter. Baillie Gifford & Co. increased its stake in Coupang by 1.6% during the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after purchasing an additional 2,749,027 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Coupang by 2,570.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock worth $42,931,000 after purchasing an additional 1,972,476 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Coupang by 55.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after purchasing an additional 1,615,448 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Coupang Price Performance

NYSE CPNG opened at $24.48 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91. The company has a market capitalization of $44.04 billion, a PE ratio of 42.95, a price-to-earnings-growth ratio of 220.34 and a beta of 1.10. The firm’s 50 day moving average is $24.90 and its 200-day moving average is $22.90.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same period last year, the company earned $0.05 earnings per share. The firm’s revenue was up 27.2% compared to the same quarter last year. Equities research analysts anticipate that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Activity at Coupang

In other Coupang news, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction on Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,000,000 shares of the company’s stock, valued at $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $24.08 per share, with a total value of $16,559,816.00. Following the completion of the transaction, the director now owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. This trade represents a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,537,700 shares of company stock valued at $36,862,316. 13.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CPNG shares. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Monday, October 7th. CLSA raised Coupang from a “hold” rating to an “outperform” rating and increased their target price for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Coupang presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Profile

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.