Principal Financial Group Inc. Sells 1,431 Shares of Coupang, Inc. (NYSE:CPNG)

Principal Financial Group Inc. reduced its position in shares of Coupang, Inc. (NYSE:CPNG) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,537 shares of the company’s stock after selling 1,431 shares during the period. 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 hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in Coupang by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock valued at $1,403,015,000 after purchasing an additional 18,894,909 shares during the period. Coronation Fund Managers Ltd. lifted its stake in shares of Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after buying an additional 2,802,325 shares during the period. Baillie Gifford & Co. grew its position in Coupang by 1.6% during the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after buying an additional 2,749,027 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Coupang by 2,570.0% during the second quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock valued at $42,931,000 after acquiring an additional 1,972,476 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Coupang by 55.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock valued at $94,799,000 after acquiring an additional 1,615,448 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CPNG shares. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, October 7th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Trading Up 1.5 %

Shares of Coupang stock opened at $24.36 on Friday. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91. The stock has a market capitalization of $43.81 billion, a P/E ratio of 42.73, a price-to-earnings-growth ratio of 217.73 and a beta of 1.10. The company has a 50-day simple moving average of $24.99 and a 200 day simple moving average of $22.94. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

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

Insider Activity at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc bought 687,700 shares of the company’s stock in a transaction on Monday, November 11th. The stock was bought at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the transaction, the director now owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. The trade was a 1.32 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bom Kim sold 15,000,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $22.97, for a total value of $344,550,000.00. Following the completion of the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is owned by company 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.