Baillie Gifford & Co. recently announced the acquisition of new stake in Coupang Inc (NYSE:CPNG). The institutional investor has increased its shareholding in the Consumer Cyclical company by 7.72% to 119.68 million shares with purchase of 8.58 million shares. This fresh investment now brings its stake to 7.42% valued currently at $1.94 billion. In addition, Capital Research & Management Co raised its holdings by 0.68 million to 27.4 million shares. And BlackRock Fund Advisors has lifted its position by 0.43% or 93775.0 shares – to 22.14 million shares.
Currently, there are 1.60B common shares owned by the public and among those 1.17B shares have been available to trade.
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Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 140,267 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 4,527,327 shares.
The top 3 mutual fund holders in Coupang Inc are American Funds Fundamental Invest, Morgan Stanley Invt. Fds. – Globa, and American Funds EuroPacific Growth. American Funds Fundamental Invest owns 32.39 million shares of the company’s stock, all valued at over $524.38 million. The company sold -4.86 million shares recently to bring their total holdings to about 2.01% of the shares outstanding. Morgan Stanley Invt. Fds. – Globa sold -1.25 million shares to see its total holdings shrink to 23.7 million shares valued at over $383.77 million and representing 1.47% of the shares outstanding. American Funds EuroPacific Growth now owns shares totaling to 1.36% of the shares outstanding.
The company’s stock has a 5-day price change of -11.40% and -16.11% over the past three months. CPNG shares are trading -8.34% year to date (YTD), with the 12-month market performance down to -8.40% lower. It has a 12-month low price of $12.66 and touched a high of $19.99 over the same period. CPNG has an average intraday trading volume of 9.15 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.51%, -6.70%, and -11.97% respectively.
Institutional ownership of Coupang Inc (NYSE: CPNG) shares accounts for 47.84% of the company’s 1.60B shares outstanding. Mutual fund holders own 28.94%, while other institutional holders and individual stakeholders account for 32.56% and 25.08% respectively.
It has a market capitalization of $26.53B and a beta (3y monthly) value of 1.19. The stock’s trailing 12-month PE ratio is 62.17, while the earnings-per-share (ttm) stands at $0.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.85% over the week and 2.32% over the month.
Analysts forecast that Coupang Inc (CPNG) will achieve an EPS of $0.06 for the current quarter, $0.09 for the next quarter and $0.42 for 2024. The lowest estimate earnings-per-share for the quarter is $0.05 while analysts give the company a high EPS estimate of $0.08. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 588.51%, and 72.54% over the next financial year.
Looking at the support for the CPNG, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on January 16, 2024, with the firm’s price target at $20-$17.
