Barings LLC Sells 18,722 Shares of Coupang, Inc. (NYSE:CPNG)

Key Points

• Barings LLC reduced its stake in Coupang, Inc. by 36.2%, selling 18,722 shares during the first quarter, leaving them with 33,064 shares valued at $725,000.
• Coupang's CFO, Gaurav Anand, sold 175,000 shares of the stock for approximately $4.92 million, decreasing his ownership by 7.72%.
• The company reported earnings per share (EPS) of $0.06 for the last quarter, missing analysts' estimates, while revenue increased by 11.2% year-over-year.

Barings LLC cut its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 36.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,064 shares of the company's stock after selling 18,722 shares during the period. Barings LLC's holdings in Coupang were worth $725,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Coupang during the 1st quarter valued at about $30,000. Grove Bank & Trust acquired a new position in Coupang during the 1st quarter valued at about $33,000. Itau Unibanco Holding S.A. lifted its position in shares of Coupang by 520.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after buying an additional 1,640 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after buying an additional 1,429 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of Coupang by 23.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company's stock worth $70,000 after buying an additional 606 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Price Performance

Shares of NYSE:CPNG traded up $0.87 on Monday, reaching $29.61. The company's stock had a trading volume of 9,949,115 shares, compared to its average volume of 9,453,162. Coupang, Inc. has a 52-week low of $18.16 and a 52-week high of $31.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.16. The company has a 50-day simple moving average of $29.39 and a 200 day simple moving average of $25.56. The company has a market cap of $53.76 billion, a P/E ratio of 211.50 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $8.02 billion. Coupang had a net margin of 0.82% and a return on equity of 10.07%. Coupang's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.25, for a total value of $282,500,000.00. Following the completion of the sale, the insider directly owned 309,542,259 shares of the company's stock, valued at $8,744,568,816.75. The trade was a 3.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the completion of the sale, the director directly owned 1,319,421 shares of the company's stock, valued at approximately $37,418,779.56. This trade represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,462,003 shares of company stock worth $1,067,897,453 over the last 90 days. Corporate insiders own 12.78% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CPNG shares. Barclays lifted their price target on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Mizuho upgraded shares of Coupang to a "hold" rating in a report on Friday, April 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $30.08.

About Coupang

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.