Renaissance Technologies LLC Increases Holdings in Coupang, Inc. (NYSE:CPNG)

Renaissance Technologies LLC grew its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 10.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,589,528 shares of the company’s stock after buying an additional 347,600 shares during the quarter. Renaissance Technologies LLC owned 0.20% of Coupang worth $75,201,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Coupang by 308.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after buying an additional 1,470 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Coupang during the 1st quarter valued at about $50,000. Opal Wealth Advisors LLC purchased a new stake in shares of Coupang during the 2nd quarter valued at about $74,000. V Square Quantitative Management LLC purchased a new stake in shares of Coupang during the 2nd quarter valued at about $89,000. Finally, Acadian Asset Management LLC raised its position in shares of Coupang by 438.7% during the 1st quarter. Acadian Asset Management LLC now owns 5,581 shares of the company’s stock valued at $99,000 after buying an additional 4,545 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and upped their target price for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. Morgan Stanley increased their price objective on shares of Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Coupang has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

Coupang Stock Performance

Coupang stock opened at $23.95 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. The firm has a market capitalization of $42.81 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 171.76 and a beta of 1.10. The company’s 50-day moving average is $21.86 and its 200 day moving average is $21.22. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $24.38.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. Research analysts forecast that Coupang, Inc. will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other Coupang news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares in the company, valued at approximately $3,390,084.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the transaction, the director now directly owns 1,969,421 shares of the company’s stock, valued at $46,005,674.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total transaction of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares in the company, valued at $3,390,084.40. The disclosure for this sale can be found here. In the last three months, insiders have purchased 601,300 shares of company stock worth $13,604,354 and have sold 410,432 shares worth $9,429,597. Insiders own 13.60% of the company’s stock.

Coupang 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.