Principal Financial Group Inc. Reduces Position in Coupang, Inc. (NYSE:CPNG)

Principal Financial Group Inc. lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,146 shares of the company’s stock after selling 3,277 shares during the period. Principal Financial Group Inc.’s holdings in Coupang were worth $1,959,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings in shares of Coupang by 25.3% in the third quarter. Ameriprise Financial Inc. now owns 3,054,223 shares of the company’s stock valued at $51,922,000 after purchasing an additional 616,210 shares during the period. Bain Capital Public Equity Management II LLC purchased a new stake in Coupang during the fourth quarter worth $18,850,000. Twenty Acre Capital LP increased its position in shares of Coupang by 23.5% during the fourth quarter. Twenty Acre Capital LP now owns 505,914 shares of the company’s stock worth $8,191,000 after purchasing an additional 96,300 shares in the last quarter. Nebula Research & Development LLC increased its position in shares of Coupang by 220.4% during the fourth quarter. Nebula Research & Development LLC now owns 98,140 shares of the company’s stock worth $1,589,000 after purchasing an additional 67,509 shares in the last quarter. Finally, Kontiki Capital Management HK Ltd. increased its position in shares of Coupang by 3.5% during the fourth quarter. Kontiki Capital Management HK Ltd. now owns 8,533,568 shares of the company’s stock worth $138,158,000 after purchasing an additional 287,000 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

CPNG stock traded up $0.51 during mid-day trading on Friday, reaching $21.42. The company’s stock had a trading volume of 1,437,072 shares, compared to its average volume of 11,611,599. The stock has a market cap of $38.30 billion, a PE ratio of 29.87, a P/E/G ratio of 44.68 and a beta of 1.09. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $23.77. The company’s 50 day moving average is $22.03 and its two-hundred day moving average is $18.88.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $7.11 billion during the quarter, compared to analyst estimates of $6.95 billion. Coupang had a net margin of 4.96% and a return on equity of 13.59%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. Equities research analysts expect that Coupang, Inc. will post 0.03 EPS for the current year.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 700,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the completion of the sale, the director now owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Benjamin Sun sold 700,000 shares of Coupang stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $20.63, for a total value of $14,441,000.00. Following the completion of the sale, the director now owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pranam Kolari sold 2,048 shares of Coupang stock in a transaction that occurred on Thursday, May 2nd. The shares were 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 of the company’s stock, valued at approximately $4,198,825.34. The disclosure for this sale can be found here. Insiders sold 753,538 shares of company stock worth $15,662,818 in the last 90 days. Insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CPNG shares. Bank of America started coverage on Coupang in a research report on Friday, May 3rd. They issued a “buy” rating and a $30.00 target price on the stock. UBS Group raised shares of Coupang from a “neutral” rating to a “buy” rating and upped their price target for the company from $18.50 to $26.00 in a report on Thursday, May 16th. Morgan Stanley upped their price target on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Barclays upped their price target on shares of Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Finally, Mizuho upped their price target on shares of Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.71.

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.