Vident Advisory LLC Has $1.64 Million Holdings in Coupang, Inc. $CPNG

Key Points

• Vident Advisory LLC increased its stake in Coupang, Inc. by 121.3%, acquiring a total of 74,895 shares valued at approximately $1.64 million.
• Several large investors, including SVB Wealth and Bank Julius Baer, have recently made new investments in Coupang, indicating strong institutional interest with 83.72% of the stock owned by institutional investors.
• Coupang missed earnings expectations with a reported $0.02 EPS, below the consensus estimate of $0.07, even though revenue rose by 16.4% year-over-year to $8.52 billion.

Vident Advisory LLC lifted its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 121.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,895 shares of the company's stock after purchasing an additional 41,053 shares during the quarter. Vident Advisory LLC's holdings in Coupang were worth $1,642,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SVB Wealth LLC acquired a new stake in Coupang in the 1st quarter valued at $28,000. 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 stake in Coupang during the 1st quarter worth $33,000. Brooklyn Investment Group increased its holdings in Coupang by 43.1% in the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock valued at $37,000 after purchasing an additional 506 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Coupang by 600.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock valued at $55,000 after purchasing an additional 2,149 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coupang

In related news, VP Pranam Kolari sold 11,653 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $29.14, for a total transaction of $339,568.42. Following the completion of the transaction, the vice president directly owned 158,676 shares of the company's stock, valued at approximately $4,623,818.64. This represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 309,542,259 shares of the company's stock, valued at $8,744,568,816.75. This trade represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,087,003 shares of company stock valued at $284,933,545. Corporate insiders own 12.78% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Morgan Stanley upped their price objective on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target on the stock. in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.14.

Coupang Stock Up 6.2%

Shares of NYSE:CPNG traded up $1.79 during mid-day trading on Monday, reaching $30.70. 13,695,531 shares of the stock were exchanged, compared to its average volume of 9,388,182. The stock's 50 day simple moving average is $29.41 and its 200-day simple moving average is $26.41. 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 $55.96 billion, a P/E ratio of 153.19 and a beta of 1.15. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company's revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, equities research analysts predict that Coupang, Inc. will post 0.17 EPS for the current year.

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.