Canada Pension Plan Investment Board Raises Holdings in Coupang, Inc. $CPNG

Key Points

• Canada Pension Plan Investment Board increased its stake in Coupang, Inc. by 298.5% in the first quarter, owning 877,486 shares valued at approximately $19.24 million.
• Coupang reported a $0.02 earnings per share for the latest quarter, missing analysts' expectations, although its revenue rose 16.4% year-over-year.
• Several large investors have acquired new stakes in Coupang, with institutional investors now owning 83.72% of the company’s stock.

Canada Pension Plan Investment Board raised its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 298.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 877,486 shares of the company's stock after purchasing an additional 657,300 shares during the quarter. Canada Pension Plan Investment Board's holdings in Coupang were worth $19,243,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. SVB Wealth LLC purchased a new position in Coupang during the 1st quarter valued at $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Coupang in the 1st quarter worth about $30,000. Grove Bank & Trust purchased a new stake in shares of Coupang in the 1st quarter worth about $33,000. Brooklyn Investment Group grew its position in shares of Coupang by 43.1% in the 1st 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 position in shares of Coupang by 600.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock worth $55,000 after buying an additional 2,149 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Morgan Stanley upped their target price on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a research note on Wednesday, August 6th. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a 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 given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.14.

Coupang Trading Up 0.6%

NYSE CPNG traded up $0.17 on Friday, hitting $28.90. 8,132,816 shares of the stock were exchanged, compared to its average volume of 7,959,836. 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 fifty day moving average price of $29.41 and a two-hundred day moving average price of $26.40. The firm has a market capitalization of $52.68 billion, a P/E ratio of 144.48 and a beta of 1.15. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $31.65.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS 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 firm had revenue of $8.52 billion for the quarter, compared to analysts' expectations of $8.34 billion. During the same period in the previous year, the firm earned $0.07 earnings per share. The firm's quarterly revenue was up 16.4% compared to the same quarter last year. Research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Transactions at Coupang

In related news, CFO Gaurav Anand sold 75,350 shares of Coupang stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the sale, the chief financial officer directly owned 2,016,940 shares in the company, valued at $56,050,762.60. The trade was a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of Coupang 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,087,003 shares of company stock worth $284,933,545. 12.78% of the stock is currently owned by insiders.

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.