Baker Avenue Asset Management LP Acquires 45,265 Shares of Coupang, Inc. (NYSE:CPNG)

Key Points

• Baker Avenue Asset Management LP increased its stake in Coupang, Inc. by 23.3%, owning 239,313 shares valued at approximately $5.25 million after acquiring additional shares in the first quarter.
• Coupang reported earnings of $0.06 per share for the last quarter, missing estimates, with revenue of $7.91 billion, which was an 11.2% increase compared to the previous year.
• Insider transactions show significant sales, including a major shareholder selling 10 million shares for roughly $282.5 million, indicating some volatility in insider ownership levels.

Baker Avenue Asset Management LP lifted its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 23.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 239,313 shares of the company's stock after buying an additional 45,265 shares during the quarter. Baker Avenue Asset Management LP's holdings in Coupang were worth $5,248,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Coupang by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after purchasing an additional 17,123,637 shares during the period. Massachusetts Financial Services Co. MA grew 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 valued at $190,497,000 after buying an additional 7,067,830 shares in the last quarter. Durable Capital Partners LP increased its position in Coupang by 13.6% during the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after buying an additional 3,420,133 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Coupang by 106.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company's stock worth $127,017,000 after buying an additional 2,979,981 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company's stock valued at $651,038,000 after acquiring an additional 2,465,973 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Price Performance

Coupang stock traded down $0.68 during midday trading on Friday, reaching $28.75. The company's stock had a trading volume of 9,679,812 shares, compared to its average volume of 8,969,002. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The stock has a market cap of $52.20 billion, a PE ratio of 205.36 and a beta of 1.16. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $31.65. The business has a 50-day moving average price of $29.39 and a 200-day moving average price of $25.53.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). Coupang had a return on equity of 10.07% and a net margin of 0.82%. The company had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.02 billion. The firm's revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts predict that Coupang, Inc. will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CPNG shares. Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Mizuho upgraded shares of Coupang to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays boosted their price target on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.08.

Insider Buying and Selling at Coupang

In other news, Director Benjamin Sun sold 200,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total value of $5,672,000.00. Following the completion of the sale, the director owned 1,319,421 shares of the company's stock, valued at approximately $37,418,779.56. This represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gaurav Anand sold 175,000 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the completion of the sale, the chief financial officer directly owned 2,092,290 shares in the company, valued at approximately $58,814,271.90. This represents a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,450,350 shares of company stock worth $1,067,557,885 over the last ninety days. Insiders own 12.78% of the company's stock.

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.