AlphaQuest LLC Buys 18,716 Shares of Coupang, Inc. $CPNG

Key Points

• AlphaQuest LLC significantly increased its investment in Coupang, Inc. by 350.2%, owning a total of 24,061 shares worth $528,000 as of the latest SEC filing.
• Multiple institutional investors have also expanded their positions in Coupang, with 83.72% of the stock now owned by hedge funds and other institutions.
• Coupang's stock has a consensus rating of "Moderate Buy" with a target price of $31.13, despite recent mixed ratings from brokerages, including a downgrade from Deutsche Bank.

AlphaQuest LLC boosted its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 350.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,061 shares of the company's stock after purchasing an additional 18,716 shares during the period. AlphaQuest LLC's holdings in Coupang were worth $528,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Davidson Kahn Capital Management LLC grew its holdings in shares of Coupang by 31.6% in the 1st quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock valued at $2,271,000 after acquiring an additional 24,877 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Coupang by 40.1% in the 1st 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 in the last quarter. Vontobel Holding Ltd. bought a new position in shares of Coupang in the 1st quarter valued at about $241,000. Deutsche Bank AG grew its holdings in shares of Coupang by 25.7% in the 4th 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 in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Coupang in the 4th quarter valued at about $1,394,000. Institutional investors own 83.72% of the company's stock.

Insider Activity

In other Coupang news, CFO Gaurav Anand sold 75,350 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the transaction, the chief financial officer directly owned 2,016,940 shares in the company, valued at $56,050,762.60. The trade was a 3.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Pranam Kolari sold 11,653 shares of the business'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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,087,003 shares of company stock worth $284,933,545. Corporate insiders own 12.78% of the company's stock.

Analyst Ratings Changes

CPNG has been the subject of several analyst reports. Nomura Securities upgraded Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target for the company in a report on Wednesday, August 6th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. 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. Finally, Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $31.13.

Coupang Price Performance

Shares of NYSE CPNG traded up $0.40 during midday trading on Thursday, reaching $28.64. The company's stock had a trading volume of 11,797,060 shares, compared to its average volume of 10,599,609. 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, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $31.65. The business's 50 day moving average price is $29.49 and its two-hundred day moving average price is $26.24. The company has a market cap of $52.22 billion, a P/E ratio of 143.23 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly 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 net margin of 1.13% and a return on equity of 7.47%. 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 previous year, the firm posted $0.07 earnings per share. The firm's quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal 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.