Pacific Capital Partners Ltd Has $2.23 Million Position in Coupang, Inc. $CPNG

Key Points

• Pacific Capital Partners Ltd reduced its stake in Coupang, Inc. by 25.5% during the second quarter, bringing its holdings down to 74,293 shares valued at approximately $2.23 million.
• Multiple institutional investors, including Davidson Kahn Capital Management and Altimeter Capital Management, increased their stakes in Coupang, reflecting growing investment interest, with Altimeter's stake now valued at $163.19 million.
• Coupang reported earnings of $0.02 per share for the last quarter, missing expectations, but saw a 16.4% year-over-year increase in revenue, amounting to $8.52 billion.

Pacific Capital Partners Ltd cut its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 25.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,293 shares of the company's stock after selling 25,372 shares during the quarter. Coupang accounts for 2.1% of Pacific Capital Partners Ltd's portfolio, making the stock its 18th largest position. Pacific Capital Partners Ltd's holdings in Coupang were worth $2,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in CPNG. Dodge & Cox lifted its position in shares of Coupang by 101.6% in the first 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 in the last quarter. GQG Partners LLC purchased a new stake in shares of Coupang in the first quarter worth approximately $168,127,000. Massachusetts Financial Services Co. MA lifted its position in shares of Coupang by 436.6% in the first 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 in the last quarter. Nuveen LLC purchased a new stake in shares of Coupang in the first quarter worth approximately $75,775,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Coupang by 204.7% in the first quarter. Assenagon Asset Management S.A. now owns 3,352,002 shares of the company's stock worth $73,509,000 after purchasing an additional 2,251,819 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Performance

Shares of NYSE:CPNG traded down $0.17 during trading on Friday, reaching $33.26. The stock had a trading volume of 5,314,492 shares, compared to its average volume of 9,865,467. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. The firm has a market capitalization of $60.63 billion, a price-to-earnings ratio of 166.33 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. The stock has a fifty day simple moving average of $29.89 and a two-hundred day simple moving average of $26.91.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $8.34 billion. During the same period in the prior year, the business earned $0.07 EPS. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Benjamin Sun sold 815,797 shares of Coupang stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total value of $26,007,608.36. Following the transaction, the director directly owned 503,624 shares of the company's stock, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 988,983 shares of company stock valued at $31,203,966 in the last 90 days. 12.78% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CPNG shares. Arete started coverage on shares of Coupang in a research report on Thursday. They issued a "buy" rating and a $40.00 price target for the company. Morgan Stanley increased their price target 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. Arete Research started coverage on shares of Coupang in a research report on Thursday. They set a "buy" rating and a $40.00 price objective on the stock. Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $33.11.

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.