Strs Ohio Has $10.36 Million Stake in Coupang, Inc. $CPNG

Strs Ohio boosted its position in Coupang, Inc. (NYSE:CPNG) by 9.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 345,619 shares of the company’s stock after buying an additional 29,677 shares during the period. Strs Ohio’s holdings in Coupang were worth $10,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of Coupang in the 1st quarter valued at about $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Coupang in the 1st quarter valued at about $30,000. Albion Financial Group UT acquired a new position in Coupang in the second quarter valued at approximately $30,000. Brooklyn Investment Group lifted its stake in Coupang by 43.1% in the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Coupang by 600.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company’s stock valued at $55,000 after buying an additional 2,149 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Arete started coverage on Coupang in a research note on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target on the stock. Nomura Securities upgraded shares of Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Zacks Research lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a report on Wednesday, October 8th. Finally, Morgan Stanley upped their price target on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.50.

Insider Buying and Selling

In other news, insider Harold Rogers sold 64,755 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total value of $2,076,045.30. Following the completion of the sale, the insider directly owned 449,569 shares of the company’s stock, valued at $14,413,182.14. This represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Pedro Franceschi sold 21,428 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 988,983 shares of company stock worth $31,203,966 over the last ninety days. Insiders own 12.78% of the company’s stock.

Coupang Stock Performance

CPNG opened at $31.99 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company’s fifty day moving average price is $31.42 and its two-hundred day moving average price is $29.08. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08. The company has a market cap of $58.32 billion, a price-to-earnings ratio of 159.96 and a beta of 1.18.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. During the same quarter in the prior year, the company earned $0.07 EPS. The company’s revenue was up 16.4% on a year-over-year basis. On average, analysts expect that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

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.