Explore Capital Management LLC Sells 42,350 Shares of Coupang, Inc. $CPNG

Explore Capital Management LLC lowered its position in Coupang, Inc. (NYSE:CPNG) by 28.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 108,000 shares of the company’s stock after selling 42,350 shares during the period. Coupang accounts for about 2.1% of Explore Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Explore Capital Management LLC’s holdings in Coupang were worth $2,548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Prudential PLC lifted its position in Coupang by 96.9% during the fourth quarter. Prudential PLC now owns 28,758 shares of the company’s stock valued at $678,000 after buying an additional 14,149 shares during the period. Vise Technologies Inc. lifted its position in Coupang by 3.0% during the fourth quarter. Vise Technologies Inc. now owns 22,302 shares of the company’s stock valued at $526,000 after buying an additional 642 shares during the period. Daiwa Securities Group Inc. lifted its position in Coupang by 17.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 27,902 shares of the company’s stock valued at $658,000 after buying an additional 4,221 shares during the period. State of Wyoming lifted its position in Coupang by 22.7% during the fourth quarter. State of Wyoming now owns 67,300 shares of the company’s stock valued at $1,588,000 after buying an additional 12,438 shares during the period. Finally, TD Asset Management Inc lifted its position in Coupang by 3.9% during the fourth quarter. TD Asset Management Inc now owns 89,215 shares of the company’s stock valued at $2,105,000 after buying an additional 3,344 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insiders Place Their Bets

In other Coupang news, Director Neil Mehta bought 3,000,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average price of $18.68 per share, with a total value of $56,040,000.00. Following the transaction, the director owned 52,978,114 shares in the company, valued at $989,631,169.52. This represents a 6.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders bought 7,350,104 shares of company stock valued at $136,566,051. 12.83% of the stock is currently owned by insiders.

Coupang Price Performance

Shares of NYSE:CPNG opened at $16.53 on Friday. Coupang, Inc. has a fifty-two week low of $15.03 and a fifty-two week high of $34.08. The business has a 50-day simple moving average of $18.33 and a two-hundred day simple moving average of $20.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. The firm has a market cap of $29.66 billion, a price-to-earnings ratio of -183.59 and a beta of 1.12.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same period last year, the firm posted $0.06 EPS. Coupang’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts expect that Coupang, Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CPNG shares. Barclays raised their price objective on Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft lowered Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Wednesday, May 6th. Finally, UBS Group set a $25.00 price objective on Coupang in a research report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Coupang presently has an average rating of “Hold” and an average target price of $26.92.

Coupang Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.