Caitong International Asset Management Co. Ltd Grows Position in Coupang, Inc. (NYSE:CPNG)

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in Coupang, Inc. by 833.9% during the first quarter, bringing its total holdings to 30,239 shares valued at $663,000.
• Major institutional investors, owning 83.72% of Coupang's stock, have recently made moves, with Bank Julius Baer & Co. and Grove Bank & Trust acquiring new stakes in the company.
• Analysts have mixed ratings for Coupang, with three rating it as a hold, while others have given it a strong buy rating, leading to an average consensus price target of $30.57.

Caitong International Asset Management Co. Ltd raised its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 833.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,239 shares of the company's stock after acquiring an additional 27,001 shares during the period. Caitong International Asset Management Co. Ltd's holdings in Coupang were worth $663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of 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 in the last quarter. Durable Capital Partners LP increased its stake in shares of Coupang by 13.6% during the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after purchasing an additional 3,420,133 shares in the last quarter. Dragoneer Investment Group LLC increased its stake in shares of Coupang by 9.0% during the fourth quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock worth $451,497,000 after purchasing an additional 1,690,826 shares in the last quarter. Dodge & Cox boosted its position in Coupang by 0.6% during the fourth quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock worth $444,640,000 after acquiring an additional 123,900 shares during the last quarter. Finally, HMI Capital Management L.P. boosted its position in Coupang by 4.2% during the fourth quarter. HMI Capital Management L.P. now owns 11,662,498 shares of the company's stock worth $256,342,000 after acquiring an additional 470,000 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Down 0.7%

Shares of NYSE:CPNG traded down $0.19 during trading hours on Friday, reaching $28.14. The stock had a trading volume of 6,975,777 shares, compared to its average volume of 11,505,234. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $31.65. The firm's 50 day moving average is $29.44 and its 200-day moving average is $25.89. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The stock has a market capitalization of $51.30 billion, a price-to-earnings ratio of 157.39 and a beta of 1.16.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CPNG. Mizuho upgraded shares of Coupang to a "hold" rating in a report on Friday, April 18th. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price on the stock. in a report on Wednesday, August 6th. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a report on Wednesday, August 6th. Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.57.

Insider Activity

In other news, Director Benjamin Sun sold 200,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were 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 in the company, valued at approximately $37,418,779.56. This trade represents a 13.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the sale, the chief financial officer owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. This trade represents a 3.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,462,003 shares of company stock worth $295,524,795 over the last quarter. Insiders own 12.78% of the company's stock.

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.