Durable Capital Partners LP Increases Stock Position in Coupang, Inc. (NYSE:CPNG)

Durable Capital Partners LP lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 13.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 28,636,287 shares of the company's stock after acquiring an additional 3,420,133 shares during the period. Coupang makes up about 5.1% of Durable Capital Partners LP's investment portfolio, making the stock its 4th biggest position. Durable Capital Partners LP owned 1.59% of Coupang worth $629,426,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new position in Coupang during the fourth quarter worth about $26,000. Berbice Capital Management LLC acquired a new position in shares of Coupang in the 4th quarter worth approximately $31,000. Itau Unibanco Holding S.A. lifted its position in shares of Coupang by 520.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after buying an additional 1,640 shares during the period. Allworth Financial LP grew its position in Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after acquiring an additional 1,986 shares during the period. Finally, TD Waterhouse Canada Inc. raised its stake in Coupang by 142.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after acquiring an additional 1,429 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coupang

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the 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 transaction, the director now owns 1,719,421 shares of the company's stock, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Pranam Kolari sold 9,347 shares of the firm'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 transaction, the vice president now owns 177,106 shares in the company, valued at approximately $4,223,978.10. This trade represents a 5.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company's stock.

Coupang Price Performance

Coupang stock opened at $24.09 on Wednesday. The stock has a market cap of $43.49 billion, a price-to-earnings ratio of 42.26, a P/E/G ratio of 52.20 and a beta of 1.08. Coupang, Inc. has a 12-month low of $18.16 and a 12-month high of $26.91. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The business's 50-day simple moving average is $22.47 and its 200 day simple moving average is $23.40.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly 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 analyst estimates of $8.02 billion. The company's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays set a $35.00 target price on shares of Coupang and gave the stock an "overweight" rating in a report on Thursday, February 27th. Citigroup dropped their price objective on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price on the stock in a report on Wednesday, February 26th. Finally, Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.06.

Coupang 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.

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