Sepio Capital LP Sells 15,873 Shares of Coupang, Inc. $CPNG

Sepio Capital LP cut its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 21.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,997 shares of the company’s stock after selling 15,873 shares during the period. Sepio Capital LP’s holdings in Coupang were worth $1,768,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPNG. Altimeter Capital Management LP raised its position in Coupang by 24.3% in the 1st quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company’s stock valued at $163,191,000 after buying an additional 1,455,555 shares during the last quarter. Bain Capital Public Equity Management II LLC boosted its stake in shares of Coupang by 39.4% in the 1st quarter. Bain Capital Public Equity Management II LLC now owns 1,467,232 shares of the company’s stock worth $32,176,000 after buying an additional 414,901 shares during the last quarter. Dark Forest Capital Management LP grew its stake in Coupang by 460.8% in the 1st quarter. Dark Forest Capital Management LP now owns 185,182 shares of the company’s stock valued at $4,061,000 after purchasing an additional 152,161 shares during the period. Raymond James Financial Inc. grew its position in shares of Coupang by 20.0% during the 1st quarter. Raymond James Financial Inc. now owns 1,320,777 shares of the company’s stock valued at $28,965,000 after acquiring an additional 220,513 shares during the period. Finally, 3G Capital Partners LP increased its stake in shares of Coupang by 12.5% during the 1st quarter. 3G Capital Partners LP now owns 1,350,000 shares of the company’s stock worth $29,606,000 after purchasing an additional 150,000 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analysts Set New Price Targets

CPNG has been the topic of several research analyst reports. Zacks Research upgraded Coupang from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Wednesday, August 6th. Arete Research started coverage on Coupang in a research note on Thursday, September 18th. They set a “buy” rating and a $40.00 price target for the company. Morgan Stanley lifted their price objective on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Nomura Securities raised shares of Coupang to a “strong-buy” rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Insider Buying and Selling

In related news, Director Pedro Franceschi sold 21,428 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Benjamin Sun sold 815,797 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director owned 503,624 shares in the company, valued at $16,055,533.12. This represents a 61.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 913,633 shares of company stock valued at $29,143,084. Corporate insiders own 12.78% of the company’s stock.

Coupang Price Performance

Coupang stock opened at $28.22 on Monday. The firm has a market capitalization of $51.54 billion, a P/E ratio of 134.36 and a beta of 1.17. Coupang, Inc. has a one year low of $19.02 and a one year high of $34.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 0.82. The business has a fifty day moving average price of $30.57 and a 200-day moving average price of $29.78.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Coupang had a return on equity of 6.95% and a net margin of 1.16%.The business had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.13 billion. During the same quarter in the prior year, the firm posted $0.06 EPS. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

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.