Thornburg Investment Management Inc. Cuts Holdings in Coupang, Inc. (NYSE:CPNG)

Thornburg Investment Management Inc. reduced its position in Coupang, Inc. (NYSE:CPNG) by 23.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,689 shares of the company’s stock after selling 7,215 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Coupang were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Coupang in the 1st quarter valued at $30,000. Grove Bank & Trust acquired a new stake in Coupang in the 1st quarter valued at $33,000. Itau Unibanco Holding S.A. increased its holdings in Coupang by 520.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock valued at $43,000 after purchasing an additional 1,640 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in Coupang by 142.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company’s stock valued at $53,000 after purchasing an additional 1,429 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Coupang by 23.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company’s stock valued at $70,000 after purchasing an additional 606 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Down 0.8%

Shares of Coupang stock opened at $29.81 on Wednesday. The business has a 50-day moving average of $29.28 and a 200-day moving average of $25.38. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 0.90. The company has a market capitalization of $54.12 billion, a PE ratio of 212.91 and a beta of 1.16. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $31.65.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a net margin of 0.82% and a return on equity of 10.07%. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. The business’s revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Coupang

In related news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of Coupang stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average price of $26.78 per share, with a total value of $20,085,000.00. Following the completion of the transaction, the director owned 54,481,161 shares of the company’s stock, valued at approximately $1,459,005,491.58. This trade represents a 1.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Pranam Kolari sold 9,347 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $23.85, for a total transaction of $222,925.95. Following the transaction, the vice president directly owned 177,106 shares in the company, valued at $4,223,978.10. The trade was a 5.01% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,459,697 shares of company stock valued at $1,067,780,811. Corporate insiders own 12.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CPNG. Barclays increased their price target on Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Wall Street Zen downgraded Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Mizuho upgraded Coupang to a “hold” rating in a research note on Friday, April 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.08.

Coupang 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.