Bank of Hawaii Invests $598,000 in Coupang, Inc. (NYSE:CPNG)

Bank of Hawaii bought a new stake in Coupang, Inc. (NYSE:CPNG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,367 shares of the company’s stock, valued at approximately $598,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Handelsbanken Fonder AB boosted its position in Coupang by 2.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock valued at $21,706,000 after buying an additional 24,553 shares during the last quarter. abrdn plc raised its position in shares of Coupang by 40.2% during the third quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after purchasing an additional 58,060 shares during the period. Coronation Fund Managers Ltd. lifted its stake in 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 in the last quarter. Assenagon Asset Management S.A. boosted its stake 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 worth $94,799,000 after purchasing an additional 1,615,448 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Coupang in the first quarter valued at about $1,443,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. CLSA raised Coupang from a “hold” rating to an “outperform” rating and lifted their target price 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 objective on the stock in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Coupang presently has a consensus rating of “Moderate Buy” and an average price target of $27.56.

Insider Activity

In other news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction dated 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 completion of the acquisition, the director now directly owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. The trade was a 1.32 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 directly owns 2,000,000 shares in the company, valued at $45,940,000. The trade was a 88.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

Coupang Price Performance

Shares of CPNG opened at $24.99 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $25.01 and its 200 day simple moving average is $22.97. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $26.91. The company has a market cap of $44.95 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 218.90 and a beta of 1.10.

Coupang (NYSE:CPNG) last issued 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. The company had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. Coupang’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. On average, research analysts forecast that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

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.