Coupang, Inc. (NYSE:CPNG) Shares Sold by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC reduced its stake in Coupang, Inc. (NYSE:CPNG) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,976 shares of the company’s stock after selling 1,307 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Coupang were worth $1,447,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CPNG. Norges Bank purchased a new position in Coupang in the fourth quarter valued at $404,896,000. Price T Rowe Associates Inc. MD increased its holdings in Coupang by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock valued at $1,663,594,000 after buying an additional 17,123,637 shares during the last quarter. Durable Capital Partners LP increased its holdings in Coupang by 13.6% in the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company’s stock valued at $629,426,000 after buying an additional 3,420,133 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Coupang by 106.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company’s stock valued at $127,017,000 after buying an additional 2,979,981 shares during the last quarter. Finally, FMR LLC increased its holdings in Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company’s stock valued at $651,038,000 after buying an additional 2,465,973 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $25.75, for a total value of $772,500,000.00. Following the completion of the sale, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gaurav Anand sold 175,000 shares of Coupang stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total value of $4,919,250.00. Following the completion of the sale, the chief financial officer now directly owns 2,092,290 shares in the company, valued at $58,814,271.90. This represents a 7.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,709,697 shares of company stock valued at $791,138,311 over the last quarter. 12.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

CPNG has been the topic of several recent analyst reports. Mizuho raised Coupang to a “hold” rating in a report on Friday, April 18th. Barclays increased their target price on Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.64.

Coupang Stock Performance

Shares of CPNG stock opened at $28.10 on Friday. The stock’s 50-day moving average is $25.26 and its two-hundred day moving average is $23.88. The firm has a market cap of $51.02 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 52.20 and a beta of 1.15. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $29.12. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $8.02 billion. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. 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.