Coupang, Inc. $CPNG Stock Position Lessened by Davis Selected Advisers

Davis Selected Advisers reduced its stake in shares of Coupang, Inc. (NYSE:CPNG) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,754,998 shares of the company’s stock after selling 125,992 shares during the quarter. Coupang comprises about 0.9% of Davis Selected Advisers’ investment portfolio, making the stock its 29th largest holding. Davis Selected Advisers owned 0.32% of Coupang worth $172,420,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Cerity Partners LLC boosted its stake in Coupang by 42.0% during the 1st quarter. Cerity Partners LLC now owns 30,549 shares of the company’s stock valued at $670,000 after purchasing an additional 9,042 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Coupang by 8.5% during the 1st quarter. Bleakley Financial Group LLC now owns 15,709 shares of the company’s stock worth $344,000 after buying an additional 1,232 shares during the period. Sigma Planning Corp acquired a new stake in shares of Coupang during the first quarter valued at approximately $339,000. Victory Capital Management Inc. grew its holdings in shares of Coupang by 7.4% during the first quarter. Victory Capital Management Inc. now owns 96,433 shares of the company’s stock valued at $2,115,000 after buying an additional 6,646 shares in the last quarter. Finally, Allen Capital Group LLC raised its position in Coupang by 9.3% during the first quarter. Allen Capital Group LLC now owns 19,583 shares of the company’s stock valued at $429,000 after buying an additional 1,660 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CPNG. Morgan Stanley increased their price objective on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Wall Street Zen downgraded Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a report on Wednesday, August 6th. Bank of America upped their price objective on shares of Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Arete Research assumed coverage on shares of Coupang in a research report on Thursday, September 18th. They issued a “buy” rating and a $40.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Coupang presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Insider Buying and Selling at Coupang

In other Coupang news, insider Harold Rogers sold 64,755 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the transaction, the insider directly owned 449,569 shares of the company’s stock, valued at $14,413,182.14. This represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Pedro Franceschi sold 21,428 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 913,633 shares of company stock worth $29,143,084 over the last quarter. Company insiders own 12.78% of the company’s stock.

Coupang Stock Down 1.0%

Shares of Coupang stock opened at $28.53 on Friday. The firm has a market cap of $52.01 billion, a price-to-earnings ratio of 135.86 and a beta of 1.17. The stock has a 50-day simple moving average of $31.63 and a 200-day simple moving average of $29.51. Coupang, Inc. has a 52-week low of $19.02 and a 52-week 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.

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