65,473 Shares in Coupang, Inc. $CPNG Purchased by Quantitative Investment Management LLC

Quantitative Investment Management LLC acquired a new position in Coupang, Inc. (NYSE:CPNG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 65,473 shares of the company’s stock, valued at approximately $1,137,000.

A number of other hedge funds have also recently modified their holdings of the business. Dodge & Cox raised its holdings in shares of Coupang by 4.9% in the fourth quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock worth $1,161,414,000 after buying an additional 2,285,600 shares during the period. Capital International Investors grew its position in Coupang by 20.4% in the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after acquiring an additional 6,977,942 shares during the last quarter. Tiger Global Management LLC grew its position in Coupang by 31.7% in the 1st quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company’s stock valued at $653,161,000 after acquiring an additional 8,328,148 shares during the last quarter. Vanguard Group Inc. increased its stake in Coupang by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock worth $697,029,000 after purchasing an additional 951,812 shares during the period. Finally, Durable Capital Partners LP increased its stake in Coupang by 0.4% in the third quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock worth $799,629,000 after purchasing an additional 89,207 shares during the period. Institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Shares of CPNG stock opened at $16.04 on Tuesday. Coupang, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $16.84 and a two-hundred day simple moving average of $17.77. The stock has a market capitalization of $28.83 billion, a price-to-earnings ratio of -37.30 and a beta of 1.13.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.18. The firm had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 earnings per share. On average, analysts predict that Coupang, Inc. will post -0.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CPNG. Citigroup lowered shares of Coupang from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Mizuho set a $22.00 price target on shares of Coupang in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and decreased their price objective for the company from $23.00 to $21.50 in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a research report on Tuesday, August 4th. Finally, CLSA initiated coverage on shares of Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.39.

Insider Activity

In other news, insider Harold Rogers sold 192,110 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the sale, the insider owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. This represents a 20.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the transaction, the chief accounting officer owned 181,915 shares in the company, valued at approximately $2,928,831.50. This represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is owned by corporate insiders.

Coupang Company 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.