Police & Firemen s Retirement System of New Jersey Acquires 20,422 Shares of Coupang, Inc. $CPNG

Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Coupang, Inc. (NYSE:CPNG) by 12.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 188,495 shares of the company’s stock after buying an additional 20,422 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Coupang were worth $5,647,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dodge & Cox boosted its stake in Coupang by 101.6% in the first quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock valued at $894,413,000 after acquiring an additional 20,555,600 shares during the last quarter. GQG Partners LLC bought a new stake in shares of Coupang in the 1st quarter worth approximately $168,127,000. Nuveen LLC purchased a new position in Coupang in the first quarter valued at approximately $75,775,000. AustralianSuper Pty Ltd bought a new position in Coupang during the second quarter valued at $51,313,000. Finally, Altimeter Capital Management LP increased its position in Coupang by 24.3% in the first quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company’s stock worth $163,191,000 after buying an additional 1,455,555 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Activity at Coupang

In other news, 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. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Harold Rogers sold 64,755 shares of Coupang stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 913,633 shares of company stock valued at $29,143,084 in the last ninety days. 12.78% of the stock is currently owned by company insiders.

Coupang Trading Down 0.9%

Coupang stock opened at $28.28 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08. The stock has a market cap of $51.65 billion, a P/E ratio of 134.65 and a beta of 1.17. The firm’s fifty day moving average price is $31.62 and its 200-day moving average price is $29.55.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Coupang had a return on equity of 6.95% and a net margin of 1.16%.The business had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.13 billion. During the same period in the prior year, the company earned $0.06 EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. Equities research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Bank of America increased their price target on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Arete began coverage on shares of Coupang in a research report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target on the stock. Morgan Stanley upped their price target on shares of Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Arete Research assumed coverage on shares of Coupang in a research note on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

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.