Coupang, Inc. (NYSE:CPNG) Stock Position Cut by Altimeter Capital Management LP

Altimeter Capital Management LP reduced its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,985,890 shares of the company's stock after selling 573,785 shares during the quarter. Coupang makes up about 2.4% of Altimeter Capital Management LP's holdings, making the stock its 10th largest position. Altimeter Capital Management LP owned about 0.33% of Coupang worth $131,570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Coupang during the 3rd quarter valued at $1,094,000. Tidal Investments LLC purchased a new position in shares of Coupang in the third quarter worth about $5,646,000. Lord Abbett & CO. LLC raised its position in shares of Coupang by 269.3% in the third quarter. Lord Abbett & CO. LLC now owns 1,292,886 shares of the company's stock valued at $31,740,000 after purchasing an additional 942,839 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of Coupang by 21.0% during the 4th quarter. Harbour Capital Advisors LLC now owns 28,650 shares of the company's stock valued at $642,000 after buying an additional 4,975 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its holdings in Coupang by 2.7% in the 4th quarter. 180 Wealth Advisors LLC now owns 33,683 shares of the company's stock worth $740,000 after buying an additional 896 shares during the period. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Activity at Coupang

In other news, VP Pranam Kolari sold 9,347 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the sale, the vice president now directly owns 177,106 shares in the company, valued at approximately $4,223,978.10. This represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the sale, the director now directly owns 1,719,421 shares in the company, valued at $40,286,034.03. The trade was a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by company insiders.

Coupang Price Performance

NYSE:CPNG traded up $0.10 during mid-day trading on Tuesday, reaching $24.09. The stock had a trading volume of 5,982,581 shares, compared to its average volume of 7,681,092. Coupang, Inc. has a one year low of $18.16 and a one year high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The firm has a 50 day moving average price of $22.46 and a two-hundred day moving average price of $23.39. The stock has a market capitalization of $43.49 billion, a P/E ratio of 42.26, a P/E/G ratio of 52.20 and a beta of 1.08.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business's quarterly revenue was up 11.2% on a year-over-year basis. As a group, analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

CPNG has been the topic of several recent research reports. Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. Citigroup cut their target price on Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Barclays set a $35.00 price target on shares of Coupang and gave the stock an "overweight" rating in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Coupang presently has a consensus rating of "Moderate Buy" and an average price target of $29.06.

Coupang Company Profile

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.