Principal Financial Group Inc. Has $2.44 Million Stock Position in Coupang, Inc. (NYSE:CPNG)

Principal Financial Group Inc. decreased its holdings in Coupang, Inc. (NYSE:CPNG) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 99,537 shares of the company’s stock after selling 1,431 shares during the period. Principal Financial Group Inc.’s holdings in Coupang were worth $2,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its holdings in Coupang by 6.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 80,152 shares of the company’s stock valued at $1,679,000 after buying an additional 4,941 shares during the period. Natixis Advisors LLC acquired a new position in shares of Coupang during the second quarter worth $11,647,000. CIBC Asset Management Inc raised its position in Coupang by 40.8% in the second quarter. CIBC Asset Management Inc now owns 52,105 shares of the company’s stock valued at $1,092,000 after purchasing an additional 15,086 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Coupang by 5.1% during the second quarter. Rhumbline Advisers now owns 1,360,974 shares of the company’s stock valued at $28,512,000 after purchasing an additional 66,612 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its holdings in shares of Coupang by 115.8% during the second quarter. Belpointe Asset Management LLC now owns 36,004 shares of the company’s stock worth $754,000 after purchasing an additional 19,319 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Monday, October 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Insider Buying and Selling at Coupang

In related news, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the transaction, the chief executive officer now directly owns 2,000,000 shares in the company, valued at approximately $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the business’s stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the transaction, the director now owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. The trade was a 1.32 % increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by company insiders.

Coupang Trading Up 0.6 %

CPNG opened at $22.42 on Friday. The stock has a market cap of $40.33 billion, a PE ratio of 39.33, a price-to-earnings-growth ratio of 215.03 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $24.14 and a 200-day moving average of $23.20. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $26.91.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter last year, the firm posted $0.05 EPS. The company’s quarterly revenue was up 27.2% on a year-over-year basis. On average, sell-side analysts predict that Coupang, Inc. will post 0.11 EPS for the current year.

Coupang Company 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.