SB Investment Advisers UK Ltd. Sells 40,000,000 Shares of Coupang, Inc. $CPNG

SB Investment Advisers UK Ltd. lessened its position in Coupang, Inc. (NYSE:CPNG) by 11.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 309,542,259 shares of the company’s stock after selling 40,000,000 shares during the period. Coupang makes up 73.5% of SB Investment Advisers UK Ltd.’s holdings, making the stock its largest position. SB Investment Advisers UK Ltd. owned about 17.05% of Coupang worth $9,273,886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CPNG. Dodge & Cox lifted its position in shares of Coupang by 101.6% during the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock valued at $894,413,000 after acquiring an additional 20,555,600 shares during the last quarter. Norges Bank acquired a new stake in Coupang during the 2nd quarter worth about $587,186,000. GQG Partners LLC acquired a new stake in shares of Coupang during the first quarter worth approximately $168,127,000. Nuveen LLC purchased a new position in shares of Coupang during the 1st quarter valued at $75,775,000. Finally, Marshall Wace LLP grew its stake in Coupang by 115.9% in the second quarter. Marshall Wace LLP now owns 6,360,239 shares of the company’s stock valued at $190,553,000 after purchasing an additional 3,414,359 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Trading Up 0.4%

CPNG stock opened at $27.13 on Monday. 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 company has a fifty day moving average price of $30.04 and a two-hundred day moving average price of $29.77. Coupang, Inc. has a one year low of $19.02 and a one year high of $34.08. The stock has a market cap of $49.56 billion, a price-to-earnings ratio of 129.20 and a beta of 1.18.

Coupang (NYSE:CPNG) last announced 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. The firm had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.13 billion. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. Equities analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CPNG. Mizuho increased their price target on shares of Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Arete Research began coverage on Coupang in a research report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target on the stock. Barclays increased their target price on shares of Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Zacks Research raised shares of Coupang from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Morgan Stanley increased their target price on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.38.

Insider Activity

In other news, Director Pedro Franceschi sold 21,428 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Benjamin Sun sold 815,797 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total value of $26,007,608.36. Following the completion of the transaction, the director owned 503,624 shares in the company, valued at approximately $16,055,533.12. This represents a 61.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 913,633 shares of company stock valued at $29,143,084. Company insiders own 12.78% of the company’s stock.

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.