Bank of America Begins Coverage on Coupang (NYSE:CPNG)

Bank of America assumed coverage on shares of Coupang (NYSE:CPNG) in a report released on Friday morning, StockNewsAPI reports. The brokerage issued a buy rating and a $30.00 target price on the stock.

CPNG has been the subject of a number of other research reports. Barclays lifted their target price on shares of Coupang from $24.00 to $25.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Citigroup raised shares of Coupang from a neutral rating to a buy rating and lifted their target price for the stock from $19.00 to $26.00 in a report on Monday, April 15th. TheStreet raised shares of Coupang from a d+ rating to a c- rating in a report on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a hold rating to a buy rating and lifted their target price for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Coupang currently has an average rating of Moderate Buy and an average target price of $23.75.

Coupang Trading Up 2.2 %

CPNG stock opened at $23.00 on Friday. 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 has a twelve month low of $13.51 and a twelve month high of $23.40. The company has a market cap of $41.25 billion, a P/E ratio of 30.67 and a beta of 1.13. The business has a fifty day moving average of $19.65 and a 200-day moving average of $17.17.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The firm had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the previous year, the business posted $0.06 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts expect that Coupang will post 0.35 EPS for the current year.

Insider Activity

In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Harold Rogers sold 139,080 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $18.25, for a total value of $2,538,210.00. Following the completion of the transaction, the insider now directly owns 394,192 shares of the company’s stock, valued at approximately $7,194,004. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The disclosure for this sale can be found here. Insiders sold 33,355,282 shares of company stock valued at $633,457,030 in the last quarter. Company insiders own 14.90% of the company’s stock.

Hedge Funds Weigh In On Coupang

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Coronation Fund Managers Ltd. boosted its stake in Coupang by 146.2% in the 1st quarter. Coronation Fund Managers Ltd. now owns 2,688,450 shares of the company’s stock worth $47,828,000 after purchasing an additional 1,596,486 shares during the period. GSA Capital Partners LLP lifted its position in Coupang by 767.9% during the 1st quarter. GSA Capital Partners LLP now owns 108,990 shares of the company’s stock worth $1,939,000 after buying an additional 96,432 shares in the last quarter. Wright Investors Service Inc. bought a new stake in Coupang during the 1st quarter worth about $447,000. Klingman & Associates LLC lifted its position in Coupang by 394.3% during the 1st quarter. Klingman & Associates LLC now owns 59,449 shares of the company’s stock worth $1,058,000 after buying an additional 47,422 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in 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 buying an additional 23,076,870 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

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.