Handelsbanken Fonder AB Reduces Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Handelsbanken Fonder AB lowered its position in Coupang, Inc. (NYSE:CPNG) by 19.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 645,495 shares of the company’s stock after selling 153,157 shares during the quarter. Handelsbanken Fonder AB’s holdings in Coupang were worth $10,451,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its stake in Coupang by 9.5% during the third quarter. Exchange Traded Concepts LLC now owns 64,097 shares of the company’s stock worth $1,090,000 after buying an additional 5,566 shares during the period. Coronation Fund Managers Ltd. boosted its stake in Coupang by 2.8% during the third quarter. Coronation Fund Managers Ltd. now owns 3,093,167 shares of the company’s stock worth $52,584,000 after buying an additional 84,076 shares during the period. Oak Thistle LLC purchased a new position in Coupang during the third quarter worth about $929,000. AMS Capital Ltda purchased a new position in Coupang during the third quarter worth about $2,729,000. Finally, Simplicity Solutions LLC boosted its stake in Coupang by 23.5% during the third quarter. Simplicity Solutions LLC now owns 15,420 shares of the company’s stock worth $262,000 after buying an additional 2,938 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Up 0.3 %

Shares of NYSE:CPNG opened at $22.80 on Thursday. The firm’s 50 day moving average price is $18.70 and its 200 day moving average price is $16.92. The stock has a market cap of $40.88 billion, a price-to-earnings ratio of 30.39 and a beta of 1.32. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $22.97. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.13.

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the sale, the insider now owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Pranam Kolari sold 2,356 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $13.88, for a total transaction of $32,701.28. Following the transaction, the insider now owns 182,844 shares in the company, valued at $2,537,874.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,355,590 shares of company stock valued at $633,443,979. 14.90% of the stock is owned by corporate 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.