Coupang, Inc. $CPNG Shares Sold by Jain Global LLC

Key Points

• Jain Global LLC trimmed its stake in Coupang by 27.7% in Q3, selling 483,165 shares and now holds 1,262,858 shares worth about $40.7 million (0.07% of the company).
• Director Neil Mehta bought 2,332,863 shares at $18.40 (~$42.9M), increasing his holding to 55,310,977 shares; insiders have purchased 7.35M shares in the last 90 days and now own 12.78% of the company.
• Coupang missed quarterly expectations, reporting EPS of ($0.01) vs. $0.02 expected and revenue of $8.84B vs. $9.12B expected, while analysts hold a consensus "Hold" rating with a $26.70 price target amid mixed recent analyst actions.

Jain Global LLC trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 27.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,262,858 shares of the company's stock after selling 483,165 shares during the quarter. Jain Global LLC owned 0.07% of Coupang worth $40,664,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Coupang by 4.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,436 shares of the company's stock worth $239,000 after purchasing an additional 330 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Coupang by 0.5% during the 3rd quarter. California State Teachers Retirement System now owns 78,679 shares of the company's stock valued at $2,533,000 after buying an additional 361 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Coupang by 0.6% during the 3rd quarter. CIBC Asset Management Inc now owns 65,029 shares of the company's stock valued at $2,094,000 after buying an additional 364 shares during the last quarter. Resonant Capital Advisors LLC grew its position in shares of Coupang by 2.9% during the third quarter. Resonant Capital Advisors LLC now owns 13,088 shares of the company's stock worth $421,000 after buying an additional 374 shares in the last quarter. Finally, Merit Financial Group LLC grew its position in shares of Coupang by 2.7% during the third quarter. Merit Financial Group LLC now owns 15,862 shares of the company's stock worth $511,000 after buying an additional 418 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analyst Weigh In

CPNG has been the topic of several recent analyst reports. Wall Street Zen cut shares of Coupang from a "hold" rating to a "strong sell" rating in a report on Saturday. Citigroup dropped their target price on shares of Coupang from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $25.00 target price on the stock in a research note on Friday, January 16th. UBS Group set a $25.00 price target on shares of Coupang in a research report on Thursday, February 19th. Finally, Nomura decreased their price target on Coupang from $22.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, March 2nd. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.70.

Insider Transactions at Coupang

In other Coupang news, Director Neil Mehta bought 2,332,863 shares of the business's stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $18.40 per share, with a total value of $42,924,679.20. Following the completion of the acquisition, the director directly owned 55,310,977 shares of the company's stock, valued at approximately $1,017,721,976.80. The trade was a 4.40% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Jonathan D. Lee sold 2,679 shares of Coupang stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $23.62, for a total value of $63,277.98. Following the completion of the transaction, the chief accounting officer owned 122,096 shares of the company's stock, valued at approximately $2,883,907.52. The trade was a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have purchased 7,350,104 shares of company stock valued at $136,566,051. Insiders own 12.78% of the company's stock.

Coupang Stock Performance

Coupang stock opened at $18.46 on Monday. The company has a market cap of $33.71 billion, a PE ratio of 153.80 and a beta of 1.20. The company has a fifty day moving average price of $19.58 and a two-hundred day moving average price of $25.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 0.79. Coupang, Inc. has a 12 month low of $16.74 and a 12 month high of $34.08.

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

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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