Principal Financial Group Inc. Raises Position in Coupang, Inc. $CPNG

Principal Financial Group Inc. grew its holdings in Coupang, Inc. (NYSE:CPNG) by 115.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,416 shares of the company’s stock after acquiring an additional 31,338 shares during the period. Principal Financial Group Inc.’s holdings in Coupang were worth $1,103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CPNG. Norges Bank purchased a new position in Coupang in the fourth quarter valued at $498,333,000. Assenagon Asset Management S.A. grew its stake in Coupang by 1,394.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company’s stock worth $323,180,000 after purchasing an additional 15,971,942 shares in the last quarter. Tiger Global Management LLC increased its holdings in Coupang by 65.9% during the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock worth $619,645,000 after purchasing an additional 10,429,680 shares during the period. Capital International Investors increased its holdings in Coupang by 20.4% during the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after purchasing an additional 6,977,942 shares during the period. Finally, Dragoneer Investment Group LLC raised its position in Coupang by 47.1% in the 4th quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock valued at $508,991,000 after purchasing an additional 6,910,865 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CPNG shares. Bank of America lowered their price objective on Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a report on Thursday, July 9th. Mizuho decreased their price target on shares of Coupang from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday. Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Finally, CLSA assumed coverage on shares of Coupang in a research report on Monday, June 15th. They issued an “outperform” rating and a $24.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.93.

Coupang Stock Up 2.0%

Shares of NYSE CPNG opened at $16.41 on Friday. The company has a market capitalization of $29.45 billion, a price-to-earnings ratio of -182.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. The business has a 50-day moving average of $16.99 and a two-hundred day moving average of $18.33. Coupang, Inc. has a 1 year low of $14.92 and a 1 year high of $34.08.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the previous year, the company posted $0.06 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. On average, analysts forecast that Coupang, Inc. will post -0.33 earnings per share for the current fiscal year.

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.