Price T Rowe Associates Inc. MD Buys 18,894,909 Shares of Coupang, Inc. (NYSE:CPNG)

Price T Rowe Associates Inc. MD raised its stake in shares of Coupang, Inc. (NYSE:CPNG) by 31.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,865,294 shares of the company’s stock after acquiring an additional 18,894,909 shares during the period. Price T Rowe Associates Inc. MD owned about 4.40% of Coupang worth $1,403,015,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CPNG. Baillie Gifford & Co. raised its stake in shares of Coupang by 15.9% during the 1st quarter. Baillie Gifford & Co. now owns 168,600,998 shares of the company’s stock worth $2,999,412,000 after purchasing an additional 23,076,870 shares during the period. WCM Investment Management LLC increased its holdings in Coupang by 2,250.9% in the 1st quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock worth $799,242,000 after acquiring an additional 43,015,433 shares during the last quarter. Norges Bank purchased a new stake in Coupang in the 4th quarter worth about $250,714,000. Sands Capital Management LLC increased its holdings in Coupang by 0.7% in the 4th quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock worth $233,793,000 after acquiring an additional 98,043 shares during the last quarter. Finally, Foxhaven Asset Management LP increased its holdings in Coupang by 8.0% in the 4th quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock worth $198,690,000 after acquiring an additional 904,065 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CPNG has been the subject of several recent research reports. UBS Group raised Coupang from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.50 to $26.00 in a report on Thursday, May 16th. Morgan Stanley lifted their price objective on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Barclays lifted their price objective on Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Bank of America assumed coverage on Coupang in a report on Friday, May 3rd. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Citigroup lifted their target price on Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.71.

Insider Buying and Selling at Coupang

In other Coupang news, insider Pranam Kolari sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the sale, the insider now owns 187,951 shares in the company, valued at $4,198,825.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Jonathan D. Lee sold 5,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $21.45, for a total value of $107,250.00. Following the sale, the chief accounting officer now directly owns 120,835 shares of the company’s stock, valued at $2,591,910.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the sale, the insider now directly owns 187,951 shares in the company, valued at $4,198,825.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 753,538 shares of company stock worth $15,662,818. 13.60% of the stock is currently owned by insiders.

Coupang Price Performance

Shares of NYSE CPNG traded up $0.39 during midday trading on Friday, hitting $20.18. 9,692,080 shares of the company’s stock were exchanged, compared to its average volume of 5,708,531. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $23.77. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67. The company has a market cap of $36.08 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 1,998.02 and a beta of 1.09. The business’s fifty day moving average price is $21.49 and its two-hundred day moving average price is $19.44.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $6.95 billion. Coupang had a return on equity of 13.59% and a net margin of 4.96%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. As a group, research analysts forecast that Coupang, Inc. will post 0.01 EPS for the current fiscal year.

About Coupang

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.