Armistice Capital LLC Lowers Stock Holdings in Coupang, Inc. $CPNG

Key Points

• Armistice Capital LLC has reduced its holdings in Coupang, Inc. by 25.9%, selling 92,497 shares, which brings its total ownership to 264,375 shares valued at approximately $5.8 million.
• Institutional investors now own 83.72% of Coupang's stock, with significant moves from various funds including Dodge & Cox, which increased its position by 101.6%.
• Coupang recently missed earnings expectations, reporting $0.02 earnings per share against a consensus of $0.07, although its revenue of $8.52 billion exceeded analysts' forecasts.

Armistice Capital LLC reduced its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 25.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 264,375 shares of the company's stock after selling 92,497 shares during the period. Armistice Capital LLC's holdings in Coupang were worth $5,798,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CPNG. SVB Wealth LLC purchased a new position in Coupang during the first quarter valued at approximately $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Coupang in the 1st quarter worth approximately $30,000. Grove Bank & Trust bought a new stake in shares of Coupang in the 1st quarter worth approximately $33,000. Brooklyn Investment Group raised its holdings in Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock valued at $37,000 after buying an additional 506 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in Coupang by 520.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after buying an additional 1,640 shares during the last quarter. Institutional investors own 83.72% of the company's stock.

Coupang Stock Performance

NYSE CPNG traded down $0.07 during trading hours on Wednesday, reaching $28.34. The stock had a trading volume of 5,869,333 shares, compared to its average volume of 9,877,092. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $31.65. The stock has a market cap of $51.67 billion, a P/E ratio of 158.78 and a beta of 1.15. The stock has a fifty day moving average of $29.48 and a 200 day moving average of $26.34. 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 announced its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share 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 business had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. During the same period in the previous year, the company earned $0.07 earnings per share. The company's quarterly revenue was up 16.4% compared to the same quarter last year. Sell-side analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling at Coupang

In other news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the 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 completion of the transaction, the insider directly owned 309,542,259 shares in the company, valued at approximately $8,744,568,816.75. This represents a 3.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Pranam Kolari sold 11,653 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the transaction, the vice president directly owned 158,676 shares in the company, valued at approximately $4,623,818.64. The trade was a 6.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,087,003 shares of company stock worth $284,933,545 in the last three months. 12.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.