Massachusetts Financial Services Co. MA Has $326.48 Million Holdings in Coupang, Inc. $CPNG

Massachusetts Financial Services Co. MA grew its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 25.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,897,027 shares of the company’s stock after acquiring an additional 2,210,447 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Coupang were worth $326,475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CPNG. Albion Financial Group UT bought a new stake in shares of Coupang during the 2nd quarter valued at approximately $30,000. SVB Wealth LLC acquired a new stake in Coupang in the first quarter valued at approximately $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Coupang during the first quarter worth $30,000. Brooklyn Investment Group increased its holdings in shares of Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock worth $37,000 after buying an additional 506 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Coupang during the second quarter worth $58,000. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 0.9%

NYSE:CPNG opened at $28.28 on Friday. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06. The firm’s fifty day moving average is $31.62 and its 200-day moving average is $29.59. The firm has a market cap of $51.65 billion, a P/E ratio of 134.65 and a beta of 1.17.

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

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 11,653 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $31.98, for a total value of $372,662.94. Following the transaction, the vice president directly owned 147,023 shares of the company’s stock, valued at $4,701,795.54. The trade was a 7.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Pedro Franceschi sold 21,428 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 913,633 shares of company stock valued at $29,143,084. Insiders own 12.78% of the company’s stock.

Analyst Ratings Changes

CPNG has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Mizuho lifted their price target on Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, August 6th. Arete Research initiated coverage on shares of Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Coupang Company 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.