Coupang, Inc. $CPNG Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. has increased its holdings in Coupang, Inc. by 44.4% during the first quarter, adding 559,960 shares to its position, which now totals approximately 1.82 million shares valued at $39.94 million.
• Coupang reported a net loss in its latest quarterly earnings, missing analysts' estimates while achieving $8.52 billion in revenue, surpassing expectations of $8.34 billion.
• Analyst ratings for Coupang are mixed, with Deutsche Bank downgrading it to a "hold" while Nomura upgraded its rating to "strong-buy", indicating varying market sentiment on the stock's future performance.

Invesco Ltd. lifted its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 44.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,821,147 shares of the company's stock after buying an additional 559,960 shares during the period. Invesco Ltd. owned approximately 0.10% of Coupang worth $39,938,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Thoroughbred Financial Services LLC increased its holdings in shares of Coupang by 1.4% during the 1st quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company's stock worth $646,000 after buying an additional 408 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Coupang by 0.5% during the 4th quarter. California State Teachers Retirement System now owns 85,489 shares of the company's stock worth $1,879,000 after buying an additional 445 shares during the last quarter. Virtus ETF Advisers LLC increased its holdings in shares of Coupang by 1.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company's stock worth $975,000 after buying an additional 466 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Coupang by 4.2% during the 1st quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company's stock worth $258,000 after buying an additional 476 shares during the last quarter. Finally, Snowden Capital Advisors LLC increased its holdings in shares of Coupang by 1.2% during the 4th quarter. Snowden Capital Advisors LLC now owns 49,908 shares of the company's stock worth $1,097,000 after buying an additional 603 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Performance

NYSE:CPNG opened at $29.00 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The firm has a 50-day moving average of $29.44 and a two-hundred day moving average of $26.00. The stock has a market cap of $52.87 billion, a P/E ratio of 145.01 and a beta of 1.16. Coupang, Inc. has a 1-year low of $19.02 and a 1-year 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The firm 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 business's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 earnings per share. On average, research analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other Coupang news, CFO Gaurav Anand sold 175,000 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $28.11, for a total value of $4,919,250.00. Following the completion of the transaction, the chief financial officer directly owned 2,092,290 shares of the company's stock, valued at $58,814,271.90. This represents a 7.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $5,672,000.00. Following the transaction, the director directly owned 1,319,421 shares in the company, valued at $37,418,779.56. The trade was a 13.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,462,003 shares of company stock valued at $295,524,795. Corporate insiders own 12.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a report on Wednesday, August 6th. Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Nomura Securities upgraded Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Barclays increased their price target on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Nomura upgraded 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. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.57.

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.

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