Hsbc Holdings PLC increased its position in Coupang, Inc. (NYSE:CPNG)

Hsbc Holdings PLC increased its position in Coupang, Inc. (NYSE:CPNG – Free Report) by 28.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 319,640 shares of the company’s stock after acquiring an additional 70,562 shares during the period. Hsbc Holdings PLC’s holdings in Coupang were worth $6,685,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. WCM Investment Management LLC boosted its holdings in shares of Coupang by 2,250.9% in the first quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock valued at $799,242,000 after buying an additional 43,015,433 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Coupang by 15.9% in the first quarter. Baillie Gifford & Co. now owns 168,600,998 shares of the company’s stock valued at $2,999,412,000 after buying an additional 23,076,870 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Coupang by 31.5% in the first 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 buying an additional 18,894,909 shares during the last quarter. Envestnet Asset Management Inc. raised 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 worth $42,931,000 after purchasing an additional 1,972,476 shares during the period. Finally, Assenagon Asset Management SA boosted its position in shares of Coupang by 55.5% in the second quarter. Assenagon Asset Management SA now owns 4,524,994 shares of the company’s stock worth $94,799,000 after purchasing an additional 1,615,448 shares during the last quarter. 83.72% of the shares are currently owned by institutional investors and hedge funds.

Coupang stock 0.9%

Shares of Coupang stock opened at $24.79 on Tuesday. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $24.84. The company has a market cap of $44.32 billion, a PE ratio of 35.40, a P/E/G ratio of 171.76 and a beta of 1.10. 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 has a 50-day moving average of $22.08 and a 200-day moving average of $21.38.

Coupang (NYSE:CPNG – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping 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 analyst estimates of $7.39 billion. In the same quarter last year, the firm earned $0.08 EPS. Coupang’s quarterly revenue was up 25.4% year over year. As a group, equities analysts forecast that Coupang, Inc. will record 0.14 EPS for the current fiscal year.

Insider trading 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 the business’s 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 sale, the insider now directly owns 170,356 shares of the company’s stock, valued at $3,390,084.40. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Also, Director Greenoaks Capital Partners Llc purchased 251,300 shares of Coupang stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $22.58 per share, for a total transaction of $5,674,354.00. Following the acquisition, the director now owns 50,126,224 shares in the company, valued at $1,131,850,137.92. Disclosure for this purchase can be found here. Over the last quarter, insiders bought 601,300 shares of company stock worth $13,604,354 and sold 410,432 shares worth $9,429,597. Corporate insiders own 13.60% of the company’s shares.

Changes in Analyst Ratings

CPNG has been the subject of a number of research reports. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and upped their target price for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Morgan Stanley upped their target price on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.25, according to MarketBeat.com.

Read our latest analysis of CPNG

Coupang profile

(Free Report)

Coupang, Inc, together with its subsidiaries, owns and operates retail businesses through its mobile applications and internet websites, primarily in South Korea. The company operates through the Product Trading and Offer Development segments. It sells various products and services in the categories of home goods and decor, clothing, beauty, fresh food and grocery, sporting goods, electronics and daily consumables, as well as travel and order and delivery services at restaurant.

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