Hsbc Holdings PLC Increases Position in Coupang, Inc. (NYSE:CPNG)

Hsbc Holdings PLC boosted its position in Coupang, Inc. (NYSE:CPNG) by 28.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 319,640 shares of the company’s stock after acquiring an additional 70,562 shares during the period. Hsbc Holdings PLC’s holdings in Coupang were worth $6,685,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. WCM Investment Management LLC boosted its holdings in shares of Coupang by 2,250.9% in the 1st quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock valued at $799,242,000 after purchasing an additional 43,015,433 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Coupang by 15.9% in the first quarter. Baillie Gifford & Co. now owns 168,600,998 shares of the company’s stock valued at $2,999,412,000 after buying an additional 23,076,870 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Coupang by 31.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock valued at $1,403,015,000 after buying an additional 18,894,909 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Coupang by 2,570.0% during the second quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock worth $42,931,000 after buying an additional 1,972,476 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Coupang by 55.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after acquiring an additional 1,615,448 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Up 0.9 %

Shares of Coupang stock opened at $24.79 on Tuesday. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $24.84. The company has a market capitalization of $44.32 billion, a PE ratio of 35.40, a P/E/G ratio of 171.76 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. The business has a 50-day moving average of $22.08 and a 200-day moving average of $21.38.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.39 billion. During the same quarter last year, the firm earned $0.08 EPS. Coupang’s quarterly revenue was up 25.4% on a year-over-year basis. As a group, equities analysts forecast that Coupang, Inc. will post 0.14 EPS for the current fiscal year.

Insider Transactions at Coupang

In related news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the sale, the insider now directly owns 170,356 shares of the company’s stock, valued at $3,390,084.40. 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 10,432 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the sale, the insider now directly owns 170,356 shares of the company’s stock, valued at $3,390,084.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Greenoaks Capital Partners Llc bought 251,300 shares of Coupang stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $22.58 per share, for a total transaction of $5,674,354.00. Following the acquisition, the director now owns 50,126,224 shares in the company, valued at $1,131,850,137.92. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 601,300 shares of company stock valued at $13,604,354 and sold 410,432 shares valued at $9,429,597. Corporate insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

CPNG has been the subject of a number of research reports. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and upped their price target for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Morgan Stanley upped their target price on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

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.