Mackenzie Financial Corp Purchases 1,709 Shares of Coupang, Inc. (NYSE:CPNG)

Mackenzie Financial Corp raised its position in Coupang, Inc. (NYSE:CPNG) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,802 shares of the company’s stock after acquiring an additional 1,709 shares during the period. Mackenzie Financial Corp’s holdings in Coupang were worth $2,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CPNG. Baillie Gifford & Co. grew its stake in shares of Coupang by 1.6% during the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after acquiring an additional 2,749,027 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Coupang by 31.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock worth $1,403,015,000 after purchasing an additional 18,894,909 shares during the last quarter. Foxhaven Asset Management LP increased its stake in Coupang by 8.0% during the 4th quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock valued at $198,690,000 after purchasing an additional 904,065 shares in the last quarter. Kontiki Capital Management HK Ltd. raised its holdings in shares of Coupang by 1.9% in the first quarter. Kontiki Capital Management HK Ltd. now owns 8,693,468 shares of the company’s stock worth $154,657,000 after buying an additional 159,900 shares during the last quarter. Finally, Bamco Inc. NY lifted its stake in shares of Coupang by 9.6% during the first quarter. Bamco Inc. NY now owns 7,942,062 shares of the company’s stock worth $141,289,000 after buying an additional 693,898 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coupang

In other Coupang news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the transaction, the insider now owns 170,356 shares in the company, valued at $3,390,084.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Coupang news, Director Greenoaks Capital Partners Llc acquired 100,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $22.39 per share, with a total value of $2,239,000.00. Following the completion of the acquisition, the director now owns 50,376,224 shares in the company, valued at $1,127,923,655.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares of the company’s stock, valued at $3,390,084.40. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 601,300 shares of company stock worth $13,604,354 and have sold 410,432 shares worth $9,429,597. 13.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CPNG. Morgan Stanley upped their target price on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. CLSA raised Coupang from a “hold” rating to an “outperform” rating and increased their price objective for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.25.

Coupang Stock Down 1.0 %

Shares of CPNG opened at $24.19 on Thursday. The company has a market capitalization of $43.25 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 181.74 and a beta of 1.10. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $25.19. The stock’s 50-day moving average price is $22.74 and its 200-day moving average price is $21.69. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.39 billion. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. On average, sell-side analysts predict that Coupang, Inc. will post 0.14 EPS for the current year.

Coupang Company 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.