HMI Capital Management L.P. Sells 282,846 Shares of Coupang, Inc. $CPNG

Key Points

• HMI Capital Management L.P. reduced its stake in Coupang, Inc. by 2.4%, owning approximately 11.38 million shares, which constitutes about 13.6% of its investment portfolio.
• Coupang reported a net margin of 1.13% and quarterly revenue of $8.52 billion, exceeding analysts' expectations, but missed EPS estimates with $0.02 compared to a consensus of $0.07.
• Brokerages have mixed outlooks on Coupang, with one firm upgrading its rating to "strong-buy" and another downgrading it to "hold", reflecting varying analyst perspectives on the stock's future performance.

HMI Capital Management L.P. lessened its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,379,652 shares of the company's stock after selling 282,846 shares during the period. Coupang makes up approximately 13.6% of HMI Capital Management L.P.'s portfolio, making the stock its largest position. HMI Capital Management L.P. owned 0.63% of Coupang worth $249,556,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dodge & Cox lifted its position in shares of Coupang by 101.6% during the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock worth $894,413,000 after purchasing an additional 20,555,600 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of Coupang during the 1st quarter worth $168,127,000. Massachusetts Financial Services Co. MA lifted its position in shares of Coupang by 436.6% during the 1st 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 during the last quarter. Nuveen LLC purchased a new stake in shares of Coupang during the 1st quarter worth $75,775,000. Finally, Durable Capital Partners LP lifted its position in shares of Coupang by 13.6% during the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after purchasing an additional 3,420,133 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Buying and Selling at Coupang

In other Coupang news, CFO Gaurav Anand sold 75,350 shares of Coupang 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 transaction, the chief financial officer directly owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. The trade was a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of Coupang 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. This represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,087,003 shares of company stock worth $284,933,545. 12.78% of the stock is owned by company insiders.

Coupang Stock Performance

NYSE CPNG traded up $2.57 during trading on Monday, reaching $31.48. The company's stock had a trading volume of 46,892,859 shares, compared to its average volume of 9,609,059. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market cap of $57.40 billion, a price-to-earnings ratio of 157.42 and a beta of 1.15. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $31.79. The business's fifty day moving average price is $29.41 and its 200-day moving average price is $26.41.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The business had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. As a group, analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CPNG. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research 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. Morgan Stanley lifted their price objective on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research report on Wednesday, August 6th. 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 analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Coupang currently has an average rating of "Moderate Buy" and a consensus price target of $31.14.

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.