Coupang, Inc. $CPNG Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford trimmed its stake in Coupang by 2.8%, selling 4,260,613 shares and retaining 146,122,094 shares (about 8% of the company) valued at roughly $3.45 billion, making Coupang its 11th largest holding.
• Director Neil Mehta bought 3,000,000 shares at $18.68 (~$56.0M), part of insiders purchasing 7.35M shares (~$136.6M) over 90 days, with insiders now owning 12.78% of the company.
• Coupang recently missed estimates (EPS -$0.01 vs. $0.02 expected; revenue $8.84B vs. $9.12B expected), prompting several analyst downgrades and target cuts; the consensus rating is a Hold with a $26.70 price target.

Baillie Gifford & Co. reduced its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,122,094 shares of the company's stock after selling 4,260,613 shares during the period. Coupang comprises 2.9% of Baillie Gifford & Co.'s investment portfolio, making the stock its 11th largest holding. Baillie Gifford & Co. owned approximately 8.00% of Coupang worth $3,447,020,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Sunbelt Securities Inc. acquired a new stake in Coupang during the 3rd quarter worth $26,000. Orion Capital Management LLC acquired a new stake in shares of Coupang in the 3rd quarter worth $32,000. Hilltop National Bank acquired a new stake in shares of Coupang in the 3rd quarter worth $34,000. Fifth Third Bancorp lifted its stake in shares of Coupang by 1,250.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company's stock worth $35,000 after acquiring an additional 1,000 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in shares of Coupang in the 3rd quarter worth $40,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPNG has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of Coupang from a "hold (c)" rating to a "sell (d+)" rating in a report on Monday, March 2nd. Wall Street Zen downgraded shares of Coupang from a "hold" rating to a "strong sell" rating in a report on Saturday, March 14th. Mizuho dropped their target price on shares of Coupang from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, February 27th. Morgan Stanley dropped their target price on shares of Coupang from $31.00 to $29.00 and set an "overweight" rating for the company in a report on Monday, March 2nd. Finally, Nomura dropped their target price on shares of Coupang from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $26.70.

Coupang Price Performance

CPNG opened at $19.76 on Monday. The company's 50 day simple moving average is $18.79 and its 200 day simple moving average is $24.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 1.04. Coupang, Inc. has a 1 year low of $16.74 and a 1 year high of $34.08. The stock has a market capitalization of $36.13 billion, a PE ratio of 164.69 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $8.84 billion during the quarter, compared to analyst estimates of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.Coupang's revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. As a group, sell-side analysts expect that Coupang, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other Coupang news, Director Neil Mehta purchased 3,000,000 shares of Coupang stock in a transaction on Thursday, March 12th. The shares were purchased at an average cost of $18.68 per share, with a total value of $56,040,000.00. Following the completion of the transaction, the director directly owned 52,978,114 shares in the company, valued at approximately $989,631,169.52. This represents a 6.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 7,350,104 shares of company stock worth $136,566,051 over the last 90 days. Insiders own 12.78% of the company's stock.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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