Coupang, Inc. $CPNG Shares Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Coupang, Inc. by 71.8%, owning 772,321 shares valued at approximately $16.9 million as of their most recent SEC filing.
• Several institutional investors have significantly increased their positions in Coupang, including GQG Partners LLC, which purchased a new position worth around $168 million, and Massachusetts Financial Services, which raised its stake by 436.6%.
• Coupang reported a net margin of 1.13% with a quarterly revenue of $8.52 billion, surpassing analysts' expectations of $8.34 billion despite an EPS miss.

Hsbc Holdings PLC raised its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 71.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 772,321 shares of the company's stock after acquiring an additional 322,742 shares during the period. Hsbc Holdings PLC's holdings in Coupang were worth $16,924,000 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 stock. GQG Partners LLC purchased a new position in shares of Coupang during the 1st quarter worth approximately $168,127,000. Massachusetts Financial Services Co. MA lifted its stake in Coupang by 436.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock worth $190,497,000 after purchasing an additional 7,067,830 shares in the last quarter. Nuveen LLC purchased a new position in shares of Coupang during the first quarter worth $75,775,000. Durable Capital Partners LP grew its stake in shares of Coupang by 13.6% in the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock valued at $629,426,000 after buying an additional 3,420,133 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Coupang by 106.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company's stock valued at $127,017,000 after buying an additional 2,979,981 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Performance

Shares of Coupang stock opened at $28.7470 on Friday. The business has a 50-day simple moving average of $29.48 and a 200-day simple moving average of $26.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. Coupang, Inc. has a one year low of $19.02 and a one year high of $31.65. The company has a market cap of $52.41 billion, a PE ratio of 143.74 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $8.34 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The firm's revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on CPNG. Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Morgan Stanley raised their price objective on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday. Barclays upped their target price on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Coupang presently has an average rating of "Moderate Buy" and a consensus target price of $31.13.

Insider Activity

In related news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.25, for a total transaction of $282,500,000.00. Following the completion of the transaction, the insider owned 309,542,259 shares in the company, valued at approximately $8,744,568,816.75. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gaurav Anand sold 75,350 shares of the firm's stock in a transaction on Monday, August 11th. The shares were 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 owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. This represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,462,003 shares of company stock valued at $295,524,795 in the last 90 days. Company insiders own 12.78% of the company's stock.

Coupang 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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