Coupang, Inc. (NYSE:CPNG) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in shares of Coupang, Inc. (NYSE:CPNG) by 167.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 679,601 shares of the company’s stock after buying an additional 425,416 shares during the period. Federated Hermes Inc.’s holdings in Coupang were worth $14,238,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC grew its position in Coupang by 308.2% during the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after acquiring an additional 1,470 shares during the period. Register Financial Advisors LLC acquired a new stake in Coupang during the 1st quarter worth approximately $50,000. Opal Wealth Advisors LLC acquired a new stake in Coupang during the 2nd quarter worth approximately $74,000. V Square Quantitative Management LLC purchased a new position in Coupang in the second quarter valued at approximately $89,000. Finally, Acadian Asset Management LLC lifted its position in Coupang by 438.7% during the first quarter. Acadian Asset Management LLC now owns 5,581 shares of the company’s stock valued at $99,000 after buying an additional 4,545 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coupang

In related news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 170,356 shares of the company’s stock, valued at $3,390,084.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction dated Friday, August 2nd. The stock was 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 directly owns 170,356 shares in the company, valued at $3,390,084.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 251,300 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $22.58 per share, for a total transaction of $5,674,354.00. Following the purchase, the director now directly owns 50,126,224 shares of the company’s stock, valued at $1,131,850,137.92. The disclosure for this purchase can be found here. Over 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. Corporate insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Coupang Stock Performance

Shares of CPNG stock opened at $23.95 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. The company’s fifty day moving average price is $21.86 and its two-hundred day moving average price is $21.22. The firm has a market capitalization of $42.81 billion, a P/E ratio of 34.21, a P/E/G ratio of 171.76 and a beta of 1.10. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $24.38.

Coupang (NYSE:CPNG) last issued its quarterly earnings results 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 firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter in the prior year, the business posted $0.08 earnings per share. Coupang’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, research analysts anticipate that Coupang, Inc. will post 0.14 earnings per share for the current fiscal year.

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.