Royal London Asset Management Ltd. Sells 6,292 Shares of Coupang, Inc. (NYSE:CPNG)

Royal London Asset Management Ltd. cut its stake in shares of Coupang, Inc. (NYSE:CPNG) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 425,744 shares of the company’s stock after selling 6,292 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Coupang were worth $6,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Headinvest LLC acquired a new position in Coupang during the 3rd quarter worth about $29,000. Nomura Asset Management Co. Ltd. boosted its holdings in Coupang by 27.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,528 shares of the company’s stock valued at $138,000 after acquiring an additional 1,821 shares during the last quarter. Integrity Wealth Solutions LLC acquired a new stake in Coupang during the 4th quarter valued at approximately $163,000. Klingman & Associates LLC bought a new position in Coupang during the 4th quarter worth approximately $195,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Coupang in the 4th quarter worth approximately $203,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and increased their price objective for the stock from $18.50 to $21.00 in a research report on Thursday, February 29th. TheStreet upgraded Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Mizuho boosted their price objective on Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Barclays raised their target price on Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Finally, UBS Group raised Coupang from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.50 to $26.00 in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.67.

Coupang Stock Down 1.4 %

Shares of NYSE:CPNG traded down $0.30 during trading on Friday, reaching $21.40. 6,159,467 shares of the stock were exchanged, compared to its average volume of 6,091,464. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $23.77. The stock has a fifty day moving average of $22.15 and a two-hundred day moving average of $18.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.15 and a quick ratio of 0.89. The firm has a market cap of $38.26 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 8.92 and a beta of 1.12.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.95 billion. During the same quarter in the prior year, the business earned $0.05 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. Research analysts anticipate that Coupang, Inc. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total transaction of $45,752.32. Following the completion of the sale, the insider now owns 187,951 shares in the company, valued at $4,198,825.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Hanseung Kang sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $23.00, for a total value of $920,000.00. Following the transaction, the director now owns 544,478 shares in the company, valued at approximately $12,522,994. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 192,618 shares of company stock valued at $3,760,028. Corporate insiders own 13.60% of the company’s stock.

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.