Simplicity Wealth LLC Makes New Investment in Coupang, Inc. (NYSE:CPNG)

Simplicity Wealth LLC purchased a new position in Coupang, Inc. (NYSE:CPNG) during the 1st quarter, Holdings Channel reports. The fund purchased 17,880 shares of the company’s stock, valued at approximately $318,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in Coupang by 21.6% in the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock valued at $2,356,036,000 after acquiring an additional 25,843,034 shares in the last quarter. FMR LLC grew its position in Coupang by 2.0% during the 3rd quarter. FMR LLC now owns 19,836,006 shares of the company’s stock worth $337,212,000 after purchasing an additional 381,964 shares during the last quarter. Norges Bank acquired a new position in shares of Coupang in the 4th quarter valued at $250,714,000. Sands Capital Management LLC raised its stake in shares of Coupang by 0.7% in the fourth quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock worth $233,793,000 after purchasing an additional 98,043 shares during the last quarter. Finally, Foxhaven Asset Management LP lifted 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 acquiring an additional 904,065 shares during the period. Institutional investors own 83.72% of the company’s stock.

Insider Activity

In related news, insider Pranam Kolari sold 6,490 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $22.93, for a total transaction of $148,815.70. Following the completion of the sale, the insider now directly owns 181,461 shares in the company, valued at $4,160,900.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Pranam Kolari sold 6,490 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $22.93, for a total transaction of $148,815.70. Following the transaction, the insider now directly owns 181,461 shares in the company, valued at $4,160,900.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jonathan D. Lee sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $21.45, for a total transaction of $107,250.00. Following the sale, the chief accounting officer now directly owns 120,835 shares of the company’s stock, valued at approximately $2,591,910.75. The disclosure for this sale can be found here. Insiders have sold a total of 33,366,772 shares of company stock worth $633,713,096 over the last quarter. 13.60% of the stock is currently owned by corporate insiders.

Coupang Price Performance

Shares of CPNG stock traded down $0.04 during trading hours on Thursday, hitting $22.37. 7,008,950 shares of the company’s stock were exchanged, compared to its average volume of 12,902,510. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.67. The firm has a market cap of $40.00 billion, a P/E ratio of 32.01, a P/E/G ratio of 41.18 and a beta of 1.13. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $23.77. The firm has a 50 day moving average of $20.72 and a two-hundred day moving average of $17.66.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coupang had a return on equity of 13.59% and a net margin of 4.96%. The company had revenue of $7.11 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same quarter last year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. Sell-side analysts forecast that Coupang, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

CPNG has been the topic of several analyst reports. TheStreet raised Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Bank of America started coverage on Coupang in a report on Friday, May 3rd. They set a “buy” rating and a $30.00 target price on the stock. Barclays boosted their price target on Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Mizuho raised their price objective on shares of Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Finally, UBS Group raised shares of Coupang from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.50 to $26.00 in a report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.67.

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.