Tremblant Capital Group Purchases 333,024 Shares of Coupang, Inc. (NYSE:CPNG)

Tremblant Capital Group increased its position in Coupang, Inc. (NYSE:CPNG) by 44.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,076,311 shares of the company’s stock after buying an additional 333,024 shares during the period. Coupang comprises approximately 2.4% of Tremblant Capital Group’s holdings, making the stock its 19th largest position. Tremblant Capital Group owned 0.06% of Coupang worth $23,657,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CPNG. Wingate Wealth Advisors Inc. bought a new position in shares of Coupang during the 4th quarter valued at about $26,000. Berbice Capital Management LLC bought a new position in shares of Coupang during the 4th quarter valued at about $31,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Coupang by 520.6% during 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 during the last quarter. Allworth Financial LP boosted its holdings in shares of Coupang by 11,033.3% during the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after purchasing an additional 1,986 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of Coupang by 142.9% during 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 during the last quarter. Institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CPNG. Barclays increased their price objective on shares of Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Mizuho raised shares of Coupang to a “hold” rating in a report on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and an average target price of $29.64.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 9,347 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the sale, the vice president now directly owns 177,106 shares of the company’s stock, valued at $4,223,978.10. This represents a 5.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the completion of the sale, the insider now directly owns 319,542,259 shares in the company, valued at $8,228,213,169.25. This trade represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,334,697 shares of company stock valued at $780,547,061 in the last ninety days. 13.60% of the stock is owned by company insiders.

Coupang Stock Up 1.4%

Shares of NYSE:CPNG opened at $27.22 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $27.73. The company has a 50-day moving average price of $23.01 and a 200 day moving average price of $23.43. The company has a market cap of $49.15 billion, a price-to-earnings ratio of 47.76, a PEG ratio of 52.20 and a beta of 1.08.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.02 billion. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

About Coupang

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.