Itau Unibanco Holding S.A. Makes New Investment in Coupang, Inc. (NYSE:CPNG)

Itau Unibanco Holding S.A. purchased a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 45,397 shares of the company’s stock, valued at approximately $951,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPNG. Baader Bank Aktiengesellschaft increased its holdings in Coupang by 5.7% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock worth $219,000 after buying an additional 567 shares during the period. Resonant Capital Advisors LLC boosted its holdings in shares of Coupang by 6.0% in the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock valued at $235,000 after acquiring an additional 635 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Coupang by 15.4% in the second quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock worth $141,000 after acquiring an additional 890 shares during the period. TCW Group Inc. raised its holdings in shares of Coupang by 6.4% during the second quarter. TCW Group Inc. now owns 16,781 shares of the company’s stock worth $352,000 after purchasing an additional 1,007 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in Coupang by 2.2% during the first quarter. Private Advisor Group LLC now owns 48,088 shares of the company’s stock valued at $855,000 after purchasing an additional 1,036 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Coupang Price Performance

Shares of Coupang stock opened at $24.58 on Friday. The firm has a market cap of $43.95 billion, a PE ratio of 35.11, a P/E/G ratio of 171.76 and a beta of 1.10. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $24.74. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $22.08 and a 200 day moving average price of $21.34.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.39 billion. During the same period in the previous year, the business earned $0.08 earnings per share. The business’s revenue was up 25.4% compared to the same quarter last year. Sell-side analysts predict that Coupang, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coupang news, Director Benjamin Sun sold 200,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the transaction, the director now directly owns 1,969,421 shares of the company’s stock, valued at $46,005,674.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Coupang news, Director Benjamin Sun sold 200,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the completion of the transaction, the director now owns 1,969,421 shares of the company’s stock, valued at $46,005,674.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction that occurred on 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 approximately $3,390,084.40. The disclosure for this sale can be found here. In the last quarter, insiders purchased 601,300 shares of company stock valued at $13,604,354 and sold 410,432 shares valued at $9,429,597. 13.60% of the stock is owned by 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.