Janus Henderson Group PLC Sells 2,990,379 Shares of Coupang, Inc. $CPNG

Janus Henderson Group PLC trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 98.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,559 shares of the company’s stock after selling 2,990,379 shares during the quarter. Janus Henderson Group PLC’s holdings in Coupang were worth $747,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in Coupang by 0.5% during the third quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock worth $2,533,000 after acquiring an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Coupang by 19.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock valued at $86,000 after purchasing an additional 597 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Coupang by 6.6% in the 3rd quarter. National Bank of Canada FI now owns 9,801 shares of the company’s stock worth $316,000 after purchasing an additional 609 shares during the period. Assetmark Inc. boosted its holdings in shares of Coupang by 9.5% in the 4th quarter. Assetmark Inc. now owns 7,150 shares of the company’s stock worth $169,000 after purchasing an additional 620 shares during the period. Finally, Vise Technologies Inc. increased its position in shares of Coupang by 3.0% during the 4th quarter. Vise Technologies Inc. now owns 22,302 shares of the company’s stock valued at $526,000 after purchasing an additional 642 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group set a $31.00 price target on Coupang in a report on Thursday, July 9th. CLSA initiated coverage on shares of Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective on the stock. Mizuho set a $22.00 target price on shares of Coupang in a research note on Wednesday, August 5th. Bank of America lowered their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.39.

Coupang Price Performance

Shares of CPNG stock opened at $16.18 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. The company has a market capitalization of $29.04 billion, a P/E ratio of -37.63 and a beta of 1.13. The company’s 50-day simple moving average is $17.00 and its two-hundred day simple moving average is $18.10. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08.

Coupang Company Profile

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.