Capital World Investors Cuts Position in Coupang, Inc. (NYSE:CPNG)

Capital World Investors lowered its stake in shares of Coupang, Inc. (NYSE:CPNG) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,830,133 shares of the company’s stock after selling 565,090 shares during the period. Capital World Investors owned about 1.50% of Coupang worth $434,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its holdings in shares of Coupang by 21.6% in the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock valued at $2,356,036,000 after purchasing an additional 25,843,034 shares in the last quarter. FMR LLC lifted its stake in Coupang by 2.0% in the 3rd quarter. FMR LLC now owns 19,836,006 shares of the company’s stock valued at $337,212,000 after buying an additional 381,964 shares in the last quarter. Norges Bank acquired a new stake in Coupang during the 4th quarter valued at $250,714,000. Sands Capital Management LLC raised its holdings in shares of Coupang by 0.7% in the fourth quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock worth $233,793,000 after acquiring an additional 98,043 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Coupang by 104,032.2% during the fourth quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company’s stock valued at $177,188,000 after acquiring an additional 10,933,789 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Up 1.2 %

Shares of NYSE:CPNG traded up $0.27 during midday trading on Thursday, reaching $22.06. The company had a trading volume of 1,119,159 shares, compared to its average volume of 12,324,774. Coupang, Inc. has a one year low of $13.51 and a one year high of $23.77. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.15 and a quick ratio of 0.89. The stock has a market capitalization of $39.44 billion, a P/E ratio of 31.12, a PEG ratio of 39.49 and a beta of 1.12. The stock’s fifty day moving average price is $21.61 and its 200-day moving average price is $18.12.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coupang had a return on equity of 13.59% and a net margin of 4.96%. The firm had revenue of $7.11 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same quarter last year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. Equities research analysts expect that Coupang, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Hanseung Kang sold 40,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $23.00, for a total transaction of $920,000.00. Following the completion of the transaction, the director now owns 544,478 shares of the company’s stock, valued at $12,522,994. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the sale, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Hanseung Kang sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $23.00, for a total transaction of $920,000.00. Following the completion of the sale, the director now directly owns 544,478 shares of the company’s stock, valued at $12,522,994. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,406,772 shares of company stock valued at $634,633,096. 13.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and lifted their price objective for the company from $18.50 to $21.00 in a research report on Thursday, February 29th. UBS Group raised shares of Coupang from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.50 to $26.00 in a research note on Thursday, May 16th. Citigroup increased their price target on shares of Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Bank of America initiated coverage on Coupang in a research note on Friday, May 3rd. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, TheStreet raised shares of Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Coupang has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

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.