Coupang, Inc. (NYSE:CPNG) Stock Holdings Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,537 shares of the company’s stock after selling 1,431 shares during the quarter. Principal Financial Group Inc.’s holdings in Coupang were worth $2,444,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in Coupang during the third quarter valued at approximately $28,000. Asset Dedication LLC raised its stake in Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after purchasing an additional 990 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares during the period. Wolff Wiese Magana LLC increased its position in shares of Coupang by 330.4% during the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after purchasing an additional 1,295 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Coupang by 438.9% in the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after purchasing an additional 1,931 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Up 0.6 %

Shares of NYSE:CPNG opened at $22.42 on Friday. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91. The company has a market capitalization of $40.33 billion, a PE ratio of 39.33, a PEG ratio of 215.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The company has a 50 day moving average price of $24.14 and a two-hundred day moving average price of $23.20.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. Coupang’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 EPS. Analysts forecast that Coupang, Inc. will post 0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Insiders Place Their Bets

In related news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the purchase, the director now directly owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This trade represents a 1.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at approximately $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

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.