Coupang, Inc. $CPNG Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Coupang, Inc. by 10.2%, selling 126,711 shares and holding approximately 0.06% of the company worth $24.3 million.
• VP Pranam Kolari sold 11,653 shares of Coupang stock for over $339,000, representing a 6.84% decrease in ownership.
• In a recent earnings report, Coupang missed EPS estimates with $0.02, while revenue grew by 16.4% compared to the previous year, totaling $8.52 billion.

American Century Companies Inc. decreased its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 10.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,110,075 shares of the company's stock after selling 126,711 shares during the quarter. American Century Companies Inc. owned about 0.06% of Coupang worth $24,344,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Davidson Kahn Capital Management LLC raised its stake in Coupang by 31.6% during the first quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock valued at $2,271,000 after purchasing an additional 24,877 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Coupang by 40.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock valued at $6,776,000 after purchasing an additional 87,412 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in Coupang in the first quarter worth $241,000. Deutsche Bank AG lifted its position in Coupang by 25.7% in the fourth quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock worth $1,997,000 after buying an additional 18,593 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Coupang in the fourth quarter worth approximately $1,394,000. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Activity

In other news, CFO Gaurav Anand sold 75,350 shares of Coupang stock in a transaction that occurred 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 transaction, the chief financial officer owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. The trade was a 3.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Sun sold 200,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the sale, the director directly owned 1,319,421 shares of the company's stock, 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. Insiders have sold a total of 10,462,003 shares of company stock valued at $295,524,795 over the last 90 days. 12.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CPNG has been the subject of a number of recent analyst reports. Morgan Stanley boosted 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. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target 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. Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Barclays raised their target price on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $31.13.

Coupang Stock Down 0.8%

Shares of Coupang stock traded down $0.22 during trading on Monday, hitting $28.53. 5,752,777 shares of the stock traded hands, compared to its average volume of 11,338,745. The firm has a market cap of $52.01 billion, a P/E ratio of 142.66 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $31.65. The stock's fifty day simple moving average is $29.48 and its 200 day simple moving average is $26.17.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly 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). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The firm had revenue of $8.52 billion for the quarter, compared to analysts' expectations of $8.34 billion. During the same quarter in the prior year, the business posted $0.07 EPS. The business's quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

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.