AQR Capital Management LLC Grows Stake in Coupang, Inc. $CPNG

Key Points

• AQR Capital Management LLC increased its stake in Coupang, Inc. by 217.3%, acquiring a total of 956,746 shares valued at approximately $20.98 million, as reported in a recent SEC filing.
• Insider selling was notable, with Director Benjamin Sun selling 815,797 shares for over $26 million, representing a 61.83% decrease in his holdings.
• Coupang's stock experienced a trading increase to $32.45, with a market capitalization of $59.16 billion and a current P/E ratio of 162.26.

AQR Capital Management LLC increased its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 217.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 956,746 shares of the company's stock after purchasing an additional 655,250 shares during the quarter. AQR Capital Management LLC owned approximately 0.05% of Coupang worth $20,981,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Dodge & Cox raised its holdings in Coupang by 101.6% in the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock worth $894,413,000 after purchasing an additional 20,555,600 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Coupang by 436.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock worth $190,497,000 after purchasing an additional 7,067,830 shares during the period. GQG Partners LLC bought a new position in Coupang in the 1st quarter worth $168,127,000. Coronation Fund Managers Ltd. raised its holdings in Coupang by 2.4% in the 1st quarter. Coronation Fund Managers Ltd. now owns 7,559,777 shares of the company's stock worth $165,786,000 after purchasing an additional 176,166 shares during the period. Finally, Altimeter Capital Management LP raised its holdings in Coupang by 24.3% in the 1st quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company's stock worth $163,191,000 after purchasing an additional 1,455,555 shares during the period. 83.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley raised their target price on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Nomura Securities raised Coupang to a "strong-buy" rating 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. Nomura raised Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target on the stock. in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Coupang currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.14.

Insider Transactions at Coupang

In other news, insider Harold Rogers sold 64,755 shares of Coupang stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.06, for a total value of $2,076,045.30. Following the sale, the insider directly owned 449,569 shares of the company's stock, valued at approximately $14,413,182.14. The trade was a 12.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 988,983 shares of company stock valued at $31,203,966. 12.78% of the stock is owned by insiders.

Coupang Price Performance

Shares of CPNG stock remained flat at $32.45 during trading hours on Friday. The stock had a trading volume of 11,307,947 shares, compared to its average volume of 11,616,974. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $32.89. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18. The business has a 50 day simple moving average of $29.62 and a 200-day simple moving average of $26.66. The stock has a market capitalization of $59.16 billion, a PE ratio of 162.26 and a beta of 1.15.

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