Federated Hermes Inc. Has $66.23 Million Stake in Coupang, Inc. $CPNG

Federated Hermes Inc. raised its position in shares of Coupang, Inc. (NYSE:CPNG) by 145.5% during the second quarter, HoldingsChannel.com reports. The fund owned 2,210,621 shares of the company’s stock after buying an additional 1,310,337 shares during the quarter. Federated Hermes Inc.’s holdings in Coupang were worth $66,230,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CPNG. Sequoia Financial Advisors LLC lifted its stake in shares of Coupang by 0.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock valued at $2,051,000 after purchasing an additional 363 shares during the period. Inspirion Wealth Advisors LLC increased its holdings in Coupang by 0.3% in the second quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock worth $4,024,000 after purchasing an additional 400 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its stake in Coupang by 4.3% in the second quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock valued at $323,000 after buying an additional 461 shares during the period. Brooklyn Investment Group lifted its stake in Coupang by 43.1% in the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the period. Finally, Samalin Investment Counsel LLC boosted its holdings in shares of Coupang by 2.5% during the 1st quarter. Samalin Investment Counsel LLC now owns 21,130 shares of the company’s stock worth $463,000 after buying an additional 520 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coupang

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.05, for a total transaction of $686,767.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Harold Rogers sold 64,755 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total value of $2,076,045.30. Following the sale, the insider directly owned 449,569 shares of the company’s stock, valued at $14,413,182.14. This represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 913,633 shares of company stock valued at $29,143,084. Insiders own 12.78% of the company’s stock.

Coupang Stock Performance

NYSE CPNG opened at $27.13 on Monday. The company has a fifty day simple moving average of $30.04 and a 200 day simple moving average of $29.77. Coupang, Inc. has a 12-month low of $19.02 and a 12-month high of $34.08. 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 company has a market cap of $49.56 billion, a P/E ratio of 129.20 and a beta of 1.18.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The firm had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.13 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The business’s revenue was up 17.8% on a year-over-year basis. Sell-side analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several research analyst reports. Arete Research assumed coverage on shares of Coupang in a research note on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective for the company. Morgan Stanley raised their price target on shares of Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Barclays lifted their price target on shares of Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Zacks Research upgraded shares of Coupang from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Mizuho raised their target price on Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and an average price target of $34.38.

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.