Coupang, Inc. (NYSE:CPNG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Coupang, Inc. (NYSE:CPNG) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,146 shares of the company’s stock after selling 3,277 shares during the quarter. Principal Financial Group Inc.’s holdings in Coupang were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC lifted its stake in Coupang by 135.8% during the first quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock valued at $26,000 after buying an additional 827 shares in the last quarter. Headinvest LLC acquired a new position in shares of Coupang in the 3rd quarter valued at about $29,000. Register Financial Advisors LLC acquired a new position in shares of Coupang in the 1st quarter valued at about $50,000. Optimum Investment Advisors acquired a new position in shares of Coupang in the 1st quarter valued at about $148,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Coupang by 27.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 8,528 shares of the company’s stock valued at $138,000 after purchasing an additional 1,821 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPNG has been the topic of a number of research reports. Morgan Stanley upped their target price on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. UBS Group upgraded Coupang from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.50 to $26.00 in a report on Thursday, May 16th. Mizuho increased their price objective on Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Bank of America assumed coverage on Coupang in a report on Friday, May 3rd. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Citigroup increased their price objective on Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.71.

Insider Activity

In other news, Director Benjamin Sun sold 700,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the completion of the sale, the director now directly owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Pranam Kolari sold 2,048 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the transaction, the insider now directly owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Benjamin Sun sold 700,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the completion of the transaction, the director now directly owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 753,538 shares of company stock valued at $15,662,818. 13.60% of the stock is owned by company insiders.

Coupang Stock Performance

CPNG stock traded up $0.51 during midday trading on Friday, hitting $21.42. 1,437,072 shares of the company traded hands, compared to its average volume of 11,611,599. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $23.77. 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 business has a 50 day simple moving average of $22.03 and a 200-day simple moving average of $18.88. The stock has a market capitalization of $38.30 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 44.68 and a beta of 1.09.

Coupang (NYSE:CPNG) last posted its quarterly earnings data 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 net margin of 4.96% and a return on equity of 13.59%. The business had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the prior year, the company posted $0.05 earnings per share. The firm’s revenue was up 22.6% compared to the same quarter last year. As a group, equities research analysts predict that Coupang, Inc. will post 0.03 earnings per share 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.