Ramirez Asset Management Inc. Purchases 59,976 Shares of Coupang, Inc. $CPNG

Ramirez Asset Management Inc. lifted its stake in Coupang, Inc. (NYSE:CPNG) by 33.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 240,142 shares of the company’s stock after buying an additional 59,976 shares during the period. Ramirez Asset Management Inc.’s holdings in Coupang were worth $5,665,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CPNG. EverSource Wealth Advisors LLC increased its holdings in shares of Coupang by 72.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock worth $99,000 after buying an additional 1,395 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Coupang by 52.8% in the second quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock worth $703,000 after buying an additional 8,107 shares during the period. Cerity Partners LLC increased its holdings in shares of Coupang by 48.1% in the second quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock worth $1,356,000 after buying an additional 14,703 shares during the period. State Street Corp increased its holdings in shares of Coupang by 8.4% in the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock worth $468,628,000 after buying an additional 1,210,801 shares during the period. Finally, AXA S.A. purchased a new position in shares of Coupang in the second quarter worth about $411,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other news, Director Neil Mehta bought 3,000,000 shares of Coupang stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $18.68 per share, for a total transaction of $56,040,000.00. Following the acquisition, the director owned 52,978,114 shares of the company’s stock, valued at approximately $989,631,169.52. The trade was a 6.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders purchased 7,350,104 shares of company stock worth $136,566,051. 12.83% of the stock is currently owned by corporate insiders.

Coupang Stock Down 7.1%

Shares of NYSE:CPNG opened at $15.36 on Friday. Coupang, Inc. has a 1 year low of $15.03 and a 1 year high of $34.08. The company has a market cap of $27.56 billion, a PE ratio of -170.59 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. The stock’s 50-day moving average is $18.26 and its 200 day moving average is $20.56.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Sell-side analysts anticipate that Coupang, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several analyst reports. Morgan Stanley decreased their price objective on Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a report on Wednesday, May 6th. Weiss Ratings downgraded Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Finally, UBS Group set a $25.00 price objective on Coupang in a report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.92.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.