Mackenzie Financial Corp Increases Position in Coupang, Inc. (NYSE:CPNG)

Mackenzie Financial Corp boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 111.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 201,956 shares of the company’s stock after purchasing an additional 106,509 shares during the period. Mackenzie Financial Corp’s holdings in Coupang were worth $3,270,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CPNG. Exchange Traded Concepts LLC lifted its holdings in Coupang by 9.5% during the third quarter. Exchange Traded Concepts LLC now owns 64,097 shares of the company’s stock valued at $1,090,000 after purchasing an additional 5,566 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in Coupang by 2.8% during the third quarter. Coronation Fund Managers Ltd. now owns 3,093,167 shares of the company’s stock worth $52,584,000 after acquiring an additional 84,076 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Coupang during the 3rd quarter worth approximately $929,000. AMS Capital Ltda acquired a new position in Coupang during the third quarter worth $2,729,000. Finally, Simplicity Solutions LLC raised its holdings in shares of Coupang by 23.5% during the 3rd quarter. Simplicity Solutions LLC now owns 15,420 shares of the company’s stock worth $262,000 after acquiring an additional 2,938 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on CPNG. Barclays raised their price objective on shares of Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and raised their price target for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. Citigroup upgraded Coupang from a “neutral” rating to a “buy” rating and upped their price objective for the company from $19.00 to $26.00 in a report on Monday, April 15th. Finally, TheStreet raised Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.42.

Insider Buying and Selling at Coupang

In other Coupang news, insider Pranam Kolari sold 2,356 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $13.88, for a total value of $32,701.28. Following the sale, the insider now owns 182,844 shares of the company’s stock, valued at approximately $2,537,874.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Pranam Kolari sold 2,356 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $13.88, for a total transaction of $32,701.28. Following the completion of the transaction, the insider now owns 182,844 shares in the company, valued at $2,537,874.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Harold Rogers sold 139,080 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $18.25, for a total value of $2,538,210.00. Following the completion of the sale, the insider now owns 394,192 shares in the company, valued at $7,194,004. The disclosure for this sale can be found here. Insiders sold 33,355,590 shares of company stock valued at $633,443,979 in the last 90 days. Company insiders own 14.90% of the company’s stock.

Coupang Stock Performance

Shares of CPNG stock opened at $22.46 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. The firm has a market cap of $40.28 billion, a P/E ratio of 29.95 and a beta of 1.32. The firm’s 50 day moving average price is $18.38 and its 200-day moving average price is $16.84. Coupang, Inc. has a one year low of $13.51 and a one year high of $22.89.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The firm had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts predict that Coupang, Inc. will post 0.32 EPS for the current year.

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.