65,473 Shares in Coupang, Inc. $CPNG Bought by Quantitative Investment Management LLC

Quantitative Investment Management LLC acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 65,473 shares of the company’s stock, valued at approximately $1,137,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dodge & Cox raised its holdings in Coupang by 4.9% in the fourth quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock worth $1,161,414,000 after purchasing an additional 2,285,600 shares in the last quarter. Capital International Investors lifted its position in shares of Coupang by 20.4% during the fourth quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after buying an additional 6,977,942 shares during the last quarter. Tiger Global Management LLC boosted its holdings in shares of Coupang by 31.7% in the 1st quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company’s stock valued at $653,161,000 after buying an additional 8,328,148 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Coupang by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after buying an additional 951,812 shares in the last quarter. Finally, Durable Capital Partners LP grew its position in shares of Coupang by 0.4% in the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock worth $799,629,000 after buying an additional 89,207 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

CPNG has been the subject of several recent analyst reports. Barclays reiterated an “overweight” rating and set a $29.00 price objective on shares of Coupang in a research note on Tuesday, July 7th. Citigroup downgraded shares of Coupang from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Mizuho set a $22.00 price target on shares of Coupang in a report on Wednesday, August 5th. Bank of America reduced their price target on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group set a $31.00 price objective on Coupang in a research report on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Coupang currently has a consensus rating of “Hold” and an average target price of $25.39.

Insiders Place Their Bets

In other Coupang news, insider Harold Rogers sold 192,110 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the sale, the insider owned 740,931 shares in the company, valued at approximately $11,988,263.58. The trade was a 20.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.10, for a total value of $88,855.90. Following the completion of the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at $2,928,831.50. This represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 12.83% of the company’s stock.

Coupang Trading Down 2.9%

Shares of Coupang stock opened at $16.04 on Tuesday. The firm’s 50 day simple moving average is $16.84 and its two-hundred day simple moving average is $17.77. The firm has a market capitalization of $28.83 billion, a price-to-earnings ratio of -37.30 and a beta of 1.13. Coupang, Inc. has a 12-month low of $14.92 and a 12-month high of $34.08. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.18. The business had revenue of $8.86 billion during the quarter, compared to the consensus estimate of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 earnings per share. Analysts predict that Coupang, Inc. will post -0.46 EPS for the current year.

Coupang Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.