AQR Capital Management LLC Raises Holdings in Coupang, Inc. (NYSE:CPNG)

AQR Capital Management LLC increased its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 301,496 shares of the company's stock after acquiring an additional 53,728 shares during the quarter. AQR Capital Management LLC's holdings in Coupang were worth $6,627,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in Coupang by 85.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock worth $24,182,000 after acquiring an additional 506,622 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Coupang by 23.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company's stock valued at $4,861,000 after buying an additional 41,384 shares during the period. Elevate Capital Advisors LLC bought a new stake in shares of Coupang in the fourth quarter valued at $2,618,000. New York Life Investment Management LLC bought a new stake in shares of Coupang in the fourth quarter valued at $349,000. Finally, Ninety One UK Ltd bought a new stake in shares of Coupang in the fourth quarter valued at $46,388,000. 83.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price on the stock in a research note on Wednesday, February 26th. Mizuho upgraded Coupang to a "hold" rating in a research note on Friday, April 18th. Finally, Barclays boosted their target price on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.19.

Insider Transactions at Coupang

In other news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $25.75, for a total value of $772,500,000.00. Following the completion of the transaction, the insider now directly owns 319,542,259 shares in the company, valued at approximately $8,228,213,169.25. This represents a 8.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Pranam Kolari sold 9,347 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $23.85, for a total value of $222,925.95. Following the completion of the transaction, the vice president now owns 177,106 shares of the company's stock, valued at $4,223,978.10. The trade was a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,259,347 shares of company stock worth $778,580,426. 13.60% of the stock is currently owned by corporate insiders.

Coupang Price Performance

Coupang stock traded up $0.32 during midday trading on Tuesday, hitting $26.46. 8,947,318 shares of the company's stock were exchanged, compared to its average volume of 7,711,311. Coupang, Inc. has a 52-week low of $18.16 and a 52-week high of $27.03. The stock has a 50-day moving average price of $22.66 and a two-hundred day moving average price of $23.41. 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 company has a market cap of $47.77 billion, a P/E ratio of 46.42, a PEG ratio of 52.20 and a beta of 1.08.

Coupang (NYSE:CPNG - Get Free Report) last posted 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 return on equity of 11.52% and a net margin of 3.57%. The business had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $8.02 billion. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

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.