Handelsbanken Fonder AB Acquires 64,967 Shares of Coupang, Inc. $CPNG

Handelsbanken Fonder AB grew its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 10.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 702,968 shares of the company’s stock after acquiring an additional 64,967 shares during the quarter. Handelsbanken Fonder AB’s holdings in Coupang were worth $12,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPNG. Sunbelt Securities Inc. purchased a new stake in Coupang in the third quarter worth $26,000. Reflection Asset Management purchased a new position in Coupang during the 4th quarter valued at $28,000. LGT Financial Advisors LLC bought a new position in Coupang in the 3rd quarter worth $52,000. Webster Bank N. A. raised its holdings in Coupang by 325.8% in the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Coupang in the 4th quarter worth about $42,000. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of Coupang stock opened at $16.30 on Friday. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. The firm has a market capitalization of $29.25 billion, a P/E ratio of -37.90 and a beta of 1.13. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $16.99 and a two-hundred day simple moving average of $18.02.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CPNG. CLSA began coverage on shares of Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 target price on the stock. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coupang in a research report on Tuesday, August 4th. Mizuho set a $22.00 target price on Coupang in a report on Wednesday, August 5th. Finally, Citigroup lowered Coupang from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Coupang currently has an average rating of “Hold” and a consensus target price of $25.39.

Insider Activity

In related news, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.10, for a total value of $88,855.90. Following the completion of the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at $2,928,831.50. This trade represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of Coupang stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction 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 trade represents a 20.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 12.83% of the stock is owned by company insiders.

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.