Coupang, Inc. (NYSE:CPNG) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 28.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 14,942 shares of the company’s stock after selling 5,841 shares during the period. Los Angeles Capital Management LLC’s holdings in Coupang were worth $266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. grew its stake in Coupang by 21.6% during the 4th quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock worth $2,356,036,000 after buying an additional 25,843,034 shares during the last quarter. Norges Bank purchased a new position in Coupang during the 4th quarter worth approximately $250,714,000. Sands Capital Management LLC grew its stake in Coupang by 0.7% during the 4th quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock worth $233,793,000 after buying an additional 98,043 shares during the last quarter. Foxhaven Asset Management LP grew its stake in Coupang by 8.0% during the 4th quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock worth $198,690,000 after buying an additional 904,065 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in Coupang by 104,032.2% during the 4th quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company’s stock worth $177,188,000 after buying an additional 10,933,789 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analysts Set New Price Targets

CPNG has been the topic of a number of research reports. TheStreet upgraded Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. Morgan Stanley lifted their target price on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup lifted their target price on Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. UBS Group upgraded Coupang from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.50 to $26.00 in a research note on Thursday, May 16th. Finally, Mizuho lifted their target price on Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.71.

Insider Activity at Coupang

In related news, insider Pranam Kolari sold 2,048 shares of Coupang stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total value of $45,752.32. Following the sale, the insider now directly owns 187,951 shares in the company, valued at $4,198,825.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Pranam Kolari sold 2,048 shares of Coupang stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total transaction of $45,752.32. Following the completion of the transaction, the insider now directly owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Benjamin Sun sold 700,000 shares of Coupang stock in a transaction on Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the transaction, the director now directly owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The disclosure for this sale can be found here. Insiders have sold a total of 753,538 shares of company stock worth $15,662,818 over the last three months. 13.60% of the stock is currently owned by corporate insiders.

Coupang Stock Up 0.3 %

Coupang stock opened at $21.28 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.15 and a quick ratio of 0.89. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $23.77. The company has a market cap of $38.05 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 8.72 and a beta of 1.12. The stock’s 50 day moving average price is $22.22 and its 200 day moving average price is $18.71.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coupang had a net margin of 4.96% and a return on equity of 13.59%. The business had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $6.95 billion. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, sell-side analysts predict that Coupang, Inc. will post 0.13 EPS 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.