Skandinaviska Enskilda Banken AB publ Has $7.28 Million Stock Position in Coupang, Inc. $CPNG

Skandinaviska Enskilda Banken AB publ boosted its holdings in Coupang, Inc. (NYSE:CPNG) by 203.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 226,000 shares of the company’s stock after purchasing an additional 151,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Coupang were worth $7,277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Coupang by 343.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after acquiring an additional 22,147,432 shares in the last quarter. Norges Bank acquired a new stake in Coupang in the second quarter worth $587,186,000. Eminence Capital LP bought a new stake in Coupang in the second quarter valued at $204,840,000. Dodge & Cox increased its stake in Coupang by 14.3% in the second quarter. Dodge & Cox now owns 46,614,520 shares of the company’s stock valued at $1,396,571,000 after purchasing an additional 5,829,600 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Coupang by 115.9% during the second quarter. Marshall Wace LLP now owns 6,360,239 shares of the company’s stock valued at $190,553,000 after purchasing an additional 3,414,359 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Coupang Stock Performance

Shares of CPNG stock opened at $18.42 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 0.82. The firm has a 50-day moving average of $21.05 and a 200-day moving average of $26.82. Coupang, Inc. has a one year low of $16.74 and a one year high of $34.08. The company has a market cap of $33.64 billion, a P/E ratio of 87.70 and a beta of 1.19.

Analyst Ratings Changes

A number of brokerages recently commented on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a report on Wednesday, January 21st. Mizuho raised their price objective on shares of Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Sanford C. Bernstein assumed coverage on shares of Coupang in a research report on Thursday, February 5th. They set an “underperform” rating and a $17.00 target price for the company. Finally, Barclays set a $23.00 target price on shares of Coupang in a report on Thursday. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.70.

Insider Activity

In related news, CAO Jonathan D. Lee sold 2,679 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $23.62, for a total transaction of $63,277.98. Following the completion of the sale, the chief accounting officer directly owned 122,096 shares of the company’s stock, valued at approximately $2,883,907.52. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.78% of the stock is currently owned by corporate insiders.

About Coupang

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.