Skandinaviska Enskilda Banken AB publ Grows Stake in Coupang, Inc. $CPNG

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Coupang, Inc. (NYSE:CPNG) by 203.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 226,000 shares of the company’s stock after purchasing an additional 151,500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Coupang were worth $7,277,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Allianz Asset Management GmbH grew its holdings in Coupang by 60.2% during the second quarter. Allianz Asset Management GmbH now owns 51,675 shares of the company’s stock valued at $1,548,000 after purchasing an additional 19,427 shares during the period. D.A. Davidson & CO. lifted its position in shares of Coupang by 13.7% during the 2nd quarter. D.A. Davidson & CO. now owns 153,445 shares of the company’s stock valued at $4,597,000 after buying an additional 18,487 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Coupang by 9.8% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 373,755 shares of the company’s stock valued at $11,198,000 after buying an additional 33,269 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Coupang during the 2nd quarter worth $251,000. Finally, B & T Capital Management DBA Alpha Capital Management purchased a new stake in Coupang in the 2nd quarter worth about $604,000. Institutional investors own 83.72% of the company’s stock.

Insider Activity at Coupang

In other news, CAO Jonathan D. Lee sold 2,679 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $23.62, for a total transaction of $63,277.98. Following the completion of the transaction, the chief accounting officer directly owned 122,096 shares in the company, valued at $2,883,907.52. The trade was a 2.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.78% of the stock is owned by company insiders.

Coupang Price Performance

Shares of NYSE:CPNG opened at $18.42 on Friday. The company has a 50 day moving average of $21.05 and a 200 day moving average of $26.82. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13. The stock has a market cap of $33.64 billion, a P/E ratio of 87.70 and a beta of 1.19. Coupang, Inc. has a 12 month low of $16.74 and a 12 month high of $34.08.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays set a $23.00 price objective on Coupang in a research note on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Coupang in a research report on Wednesday, January 21st. Citigroup dropped their price target on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Nomura downgraded shares of Coupang from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.70.

Coupang 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.