Flossbach Von Storch SE Invests $2.08 Million in Coupang, Inc. $CPNG

Flossbach Von Storch SE purchased a new position in Coupang, Inc. (NYSE:CPNG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 120,000 shares of the company’s stock, valued at approximately $2,084,000.

Several other institutional investors and hedge funds have also bought and sold shares of CPNG. Vanguard Group Inc. lifted its holdings in Coupang by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after purchasing an additional 951,812 shares during the last quarter. Ethic Inc. increased its stake in shares of Coupang by 383.2% in the fourth quarter. Ethic Inc. now owns 126,154 shares of the company’s stock worth $2,976,000 after purchasing an additional 100,047 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Coupang by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock worth $574,068,000 after purchasing an additional 1,689,293 shares in the last quarter. M&T Bank Corp raised its position in shares of Coupang by 22.7% in the fourth quarter. M&T Bank Corp now owns 318,971 shares of the company’s stock valued at $7,525,000 after purchasing an additional 59,013 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of Coupang by 10.2% in the second quarter. Handelsbanken Fonder AB now owns 702,968 shares of the company’s stock valued at $12,211,000 after purchasing an additional 64,967 shares during the period. 83.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Coupang

In related news, insider Harold Rogers sold 192,110 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.18, for a total value of $3,108,339.80. Following the sale, the insider owned 740,931 shares in the company, valued at approximately $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.10, for a total value of $88,855.90. Following the sale, the chief accounting officer directly owned 181,915 shares of the company’s stock, valued at $2,928,831.50. This represents a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 12.83% of the company’s stock.

Coupang Price Performance

Shares of NYSE:CPNG opened at $16.63 on Thursday. The company has a 50 day moving average of $17.05 and a 200 day moving average of $17.91. The stock has a market cap of $29.90 billion, a P/E ratio of -38.68 and a beta of 1.13. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.18. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The business had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the prior year, the firm posted $0.02 EPS. Coupang’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts forecast that Coupang, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on CPNG shares. Citigroup downgraded shares of Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $22.20 in a report on Wednesday, May 6th. Bank of America lowered their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coupang in a report on Tuesday, August 4th. The Goldman Sachs Group set a $31.00 price target on Coupang in a research report on Thursday, July 9th. Finally, Mizuho set a $22.00 price objective on Coupang in a research note on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.39.

About Coupang

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.