K.J. Harrison & Partners Inc Acquires New Holdings in Coupang, Inc. (NYSE:CPNG)

K.J. Harrison & Partners Inc bought a new position in Coupang, Inc. (NYSE:CPNG) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the company’s stock, valued at approximately $324,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in Coupang by 25.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,054,223 shares of the company’s stock worth $51,922,000 after purchasing an additional 616,210 shares during the period. M&T Bank Corp bought a new position in shares of Coupang during the third quarter worth about $2,415,000. SG Americas Securities LLC lifted its stake in Coupang by 1,509.1% in the 4th quarter. SG Americas Securities LLC now owns 163,159 shares of the company’s stock valued at $2,642,000 after acquiring an additional 153,019 shares in the last quarter. Sapient Capital LLC acquired a new position in Coupang during the 4th quarter worth approximately $2,486,000. Finally, Vanguard Group Inc. grew its stake in shares of Coupang by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,309,204 shares of the company’s stock worth $73,256,000 after acquiring an additional 148,738 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Coupang Stock Performance

Shares of NYSE CPNG traded down $0.12 during mid-day trading on Friday, reaching $22.91. 10,401,844 shares of the company were exchanged, compared to its average volume of 15,581,178. The stock has a market capitalization of $41.08 billion, a P/E ratio of 30.55 and a beta of 1.32. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $18.98 and its 200-day simple moving average is $17.00. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $23.40.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The firm had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same period last year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, research analysts predict that Coupang, Inc. will post 0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays lifted their target price on Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $18.50 to $21.00 in a research note on Thursday, February 29th. Finally, Citigroup upgraded Coupang from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $26.00 in a report on Monday, April 15th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.42.

Insider Activity at Coupang

In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the transaction, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Pranam Kolari sold 2,356 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $13.88, for a total value of $32,701.28. Following the transaction, the insider now owns 182,844 shares in the company, valued at $2,537,874.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the sale, the insider now directly owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The disclosure for this sale can be found here. Insiders sold 33,355,590 shares of company stock worth $633,443,979 in the last ninety days. 14.90% of the stock is owned by company insiders.

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.