Trexquant Investment LP Buys Shares of 961,742 Coupang, Inc. $CPNG

Key Points

• Trexquant Investment LP acquired 961,742 shares of Coupang, Inc. valued at approximately $21.1 million, representing 0.05% ownership of the company.
• Multiple institutional investors have significantly increased their stakes in Coupang, with Dodge & Cox raising its position by 101.6% to own over 40 million shares worth approximately $894 million.
• Coupang's stock was downgraded by several analysts, including Deutsche Bank and Wall Street Zen, while Barclays raised its price target, indicating a mixed outlook for the company.

Trexquant Investment LP acquired a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 961,742 shares of the company's stock, valued at approximately $21,091,000. Trexquant Investment LP owned about 0.05% of Coupang at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Davidson Kahn Capital Management LLC increased its holdings in Coupang by 31.6% in the first quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock worth $2,271,000 after purchasing an additional 24,877 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Coupang by 40.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock valued at $6,776,000 after acquiring an additional 87,412 shares during the period. Vontobel Holding Ltd. acquired a new stake in Coupang in the first quarter valued at approximately $241,000. Deutsche Bank AG grew its stake in Coupang by 25.7% in the fourth quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock valued at $1,997,000 after acquiring an additional 18,593 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Coupang in the fourth quarter valued at approximately $1,394,000. 83.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CPNG. Nomura raised Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research note on Wednesday, August 6th. Barclays raised their price objective on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Nomura Securities raised Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Morgan Stanley lifted their target price on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Finally, Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $31.13.

Coupang Stock Performance

Coupang stock traded down $0.34 during mid-day trading on Tuesday, reaching $28.25. 2,887,500 shares of the company's stock were exchanged, compared to its average volume of 9,399,047. The business's fifty day simple moving average is $29.49 and its 200 day simple moving average is $26.32. The firm has a market capitalization of $51.49 billion, a PE ratio of 141.28 and a beta of 1.15. Coupang, Inc. has a one year low of $19.02 and a one year high of $31.65. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The business had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business's revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. On average, sell-side analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of Coupang stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.25, for a total transaction of $282,500,000.00. Following the sale, the insider directly owned 309,542,259 shares in the company, valued at approximately $8,744,568,816.75. This trade represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gaurav Anand sold 75,350 shares of Coupang stock in a transaction on Monday, August 11th. The stock was sold at an average price of $27.79, for a total value of $2,093,976.50. Following the sale, the chief financial officer owned 2,016,940 shares in the company, valued at $56,050,762.60. This trade represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,087,003 shares of company stock worth $284,933,545. 12.78% of the stock is owned by company insiders.

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.