Aberdeen Group plc Buys 357,534 Shares of Coupang, Inc. $CPNG

Key Points

• Aberdeen Group plc significantly increased its stake in Coupang, Inc. by 194.1% during Q1, acquiring an additional 357,534 shares, bringing its total shareholding to 541,772 shares valued at approximately $11.88 million.
• Major shareholder Svf Investments (UK) Ltd sold 10 million shares at an average price of $28.25, reducing their ownership by 3.13%.
• Coupang's most recent earnings report showed a miss in earnings estimates, reporting $0.02 EPS against an expectation of $0.07 EPS, despite a year-over-year revenue increase of 16.4%.

Aberdeen Group plc increased its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 194.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 541,772 shares of the company's stock after purchasing an additional 357,534 shares during the period. Aberdeen Group plc's holdings in Coupang were worth $11,881,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Davidson Kahn Capital Management LLC raised its stake in Coupang by 31.6% during the first quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock worth $2,271,000 after acquiring an additional 24,877 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Coupang by 40.1% during 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 position in Coupang during the 1st quarter valued at about $241,000. Deutsche Bank AG boosted 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 last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Coupang in the 4th quarter worth $1,394,000. Institutional investors own 83.72% of the company's stock.

Wall Street Analyst Weigh In

CPNG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a research note on Wednesday, August 6th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Morgan Stanley increased their price objective on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research note on Wednesday, August 6th. Finally, Barclays lifted their price target on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.13.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 11,653 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $29.14, for a total transaction of $339,568.42. Following the sale, the vice president owned 158,676 shares of the company's stock, valued at approximately $4,623,818.64. This represents a 6.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of Coupang stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.25, for a total value of $282,500,000.00. Following the sale, the insider owned 309,542,259 shares of the company's stock, valued at approximately $8,744,568,816.75. This trade represents a 3.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,462,003 shares of company stock worth $295,524,795 in the last 90 days. 12.78% of the stock is owned by company insiders.

Coupang Trading Down 0.8%

Shares of NYSE:CPNG traded down $0.22 during midday trading on Monday, reaching $28.53. The company's stock had a trading volume of 5,752,777 shares, compared to its average volume of 11,338,745. The firm has a market capitalization of $52.01 billion, a price-to-earnings ratio of 142.66 and a beta of 1.16. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $31.65. The firm has a 50 day moving average price of $29.48 and a two-hundred day moving average price of $26.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. During the same quarter in the prior year, the company earned $0.07 EPS. The company's revenue was up 16.4% on a year-over-year basis. As a group, 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.