Coupang, Inc. (NYSE:CPNG) Shares Sold by Deepwater Asset Management LLC

Deepwater Asset Management LLC reduced its position in Coupang, Inc. (NYSE:CPNG) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 791,564 shares of the company’s stock after selling 20,321 shares during the quarter. Coupang makes up about 5.3% of Deepwater Asset Management LLC’s portfolio, making the stock its 10th largest position. Deepwater Asset Management LLC’s holdings in Coupang were worth $14,082,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Coupang by 61.1% during the third quarter. Invesco Ltd. now owns 921,619 shares of the company’s stock valued at $15,668,000 after purchasing an additional 349,602 shares during the period. Northern Trust Corp increased its stake in Coupang by 5.5% during the 3rd quarter. Northern Trust Corp now owns 2,730,835 shares of the company’s stock valued at $46,424,000 after purchasing an additional 142,741 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Coupang by 26.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 15,994 shares of the company’s stock worth $272,000 after acquiring an additional 3,334 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Coupang during the 3rd quarter worth approximately $4,081,000. Finally, Alberta Investment Management Corp raised its stake in shares of Coupang by 79.9% in the third quarter. Alberta Investment Management Corp now owns 342,198 shares of the company’s stock worth $5,817,000 after purchasing an additional 152,027 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Price Performance

Coupang stock traded down $0.14 during midday trading on Tuesday, reaching $20.94. 6,556,811 shares of the stock were exchanged, compared to its average volume of 11,737,680. The firm has a market cap of $37.44 billion, a PE ratio of 29.87, a PEG ratio of 44.76 and a beta of 1.09. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $23.77. The company’s fifty day moving average is $22.15 and its 200-day moving average is $18.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 1.15.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $6.95 billion. Coupang had a net margin of 4.96% and a return on equity of 13.59%. The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. On average, sell-side analysts forecast that Coupang, Inc. will post 0.03 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on CPNG shares. Bank of America began coverage on shares of Coupang in a research report on Friday, May 3rd. They set a “buy” rating and a $30.00 target price on the stock. Citigroup boosted their price objective on Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Barclays upped their price objective on Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. UBS Group upgraded Coupang from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $18.50 to $26.00 in a research note on Thursday, May 16th. Finally, TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.71.

Insider Buying and Selling

In related news, Director Benjamin Sun sold 700,000 shares of Coupang stock in a transaction on Monday, June 17th. The shares were sold at an average price of $20.63, for a total value of $14,441,000.00. Following the transaction, the director now directly owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Benjamin Sun sold 700,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the transaction, the director now directly owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total transaction of $45,752.32. Following the completion of the transaction, the insider now owns 187,951 shares in the company, valued at approximately $4,198,825.34. The disclosure for this sale can be found here. Insiders have sold a total of 753,538 shares of company stock worth $15,662,818 in the last ninety days. 13.60% of the stock is owned by insiders.

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.