Bain Capital Public Equity Management II LLC Increases Stake in Coupang, Inc. $CPNG

Key Points

• Bain Capital Public Equity Management II LLC increased its stake in Coupang, Inc. by 39.4%, owning 1,467,232 shares after purchasing 414,901 additional shares.
• Major shareholder Svf Investments (Uk) Ltd sold 10 million shares for $282.5 million, reducing their position by 3.13%.
• Coupang reported a net revenue of $8.52 billion for the quarter, exceeding analyst expectations despite a small earnings miss.

Bain Capital Public Equity Management II LLC lifted its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 39.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,467,232 shares of the company's stock after buying an additional 414,901 shares during the quarter. Coupang comprises about 2.5% of Bain Capital Public Equity Management II LLC's holdings, making the stock its 11th largest position. Bain Capital Public Equity Management II LLC owned 0.08% of Coupang worth $32,176,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CPNG. SVB Wealth LLC acquired a new stake in shares of Coupang during the first quarter worth $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Coupang during the first quarter worth $30,000. Grove Bank & Trust acquired a new stake in shares of Coupang during the first quarter worth $33,000. Brooklyn Investment Group increased its position in shares of Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after buying an additional 506 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Coupang by 600.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock worth $55,000 after purchasing an additional 2,149 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 value of $2,093,976.50. Following the completion of the transaction, the chief financial officer owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. The trade was a 3.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $8,744,568,816.75. This represents a 3.13% 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 valued at $284,933,545 in the last quarter. Corporate insiders own 12.78% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on CPNG. Nomura upgraded shares of 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. Morgan Stanley boosted their price target on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a research 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 assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.14.

Coupang Stock Performance

Shares of NYSE CPNG traded up $0.17 during midday trading on Friday, hitting $28.90. The company's stock had a trading volume of 8,132,816 shares, compared to its average volume of 7,959,836. The stock has a fifty day moving average price of $29.41 and a 200 day moving average price of $26.40. Coupang, Inc. has a one year low of $19.02 and a one year high of $31.65. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $52.68 billion, a price-to-earnings ratio of 144.48 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly 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). The business had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the firm earned $0.07 EPS. On average, research 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.