Coupang, Inc. $CPNG Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Coupang, Inc. by 10.6% in Q1, now holding 67,694,199 shares valued at approximately $1.48 billion.
• Major hedge funds are actively adjusting their positions in Coupang, with 83.72% of the stock being owned by institutional investors.
• Analysts have mixed opinions on Coupang's stock, with ratings ranging from "Strong Buy" to "Hold", while the current consensus target price is $31.13.

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 10.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,694,199 shares of the company's stock after selling 7,992,449 shares during the quarter. Price T Rowe Associates Inc. MD owned 3.75% of Coupang worth $1,484,536,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Coupang during the first quarter worth about $30,000. Grove Bank & Trust acquired a new position in shares of Coupang in the 1st quarter worth approximately $33,000. Brooklyn Investment Group lifted its holdings in shares of Coupang by 43.1% in the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after acquiring an additional 506 shares during the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Coupang by 520.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after purchasing an additional 1,640 shares during the period. Finally, TD Waterhouse Canada Inc. increased its holdings in Coupang by 142.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after purchasing an additional 1,429 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CPNG shares. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Barclays raised their target price on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. 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 research report on Wednesday, August 6th. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a report on Wednesday, August 6th. Finally, Morgan Stanley increased their target price on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.13.

Coupang Stock Down 0.1%

Shares of Coupang stock opened at $28.8150 on Thursday. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $31.65. The company has a 50 day moving average of $29.47 and a 200 day moving average of $26.04. 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 company has a market capitalization of $52.53 billion, a P/E ratio of 144.08 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last announced 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). 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 analysts' expectations of $8.34 billion. During the same period in the prior year, the company posted $0.07 earnings per share. The company's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 11,653 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total transaction of $339,568.42. Following the completion of the transaction, the vice president directly owned 158,676 shares of the company's stock, valued at approximately $4,623,818.64. This represents a 6.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gaurav Anand sold 175,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $28.11, for a total value of $4,919,250.00. Following the sale, the chief financial officer directly owned 2,092,290 shares in the company, valued at $58,814,271.90. This trade represents a 7.72% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,462,003 shares of company stock worth $295,524,795. 12.78% of the stock is owned by corporate insiders.

About Coupang

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.

Want to see what other hedge funds are holding CPNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coupang, Inc. (NYSE:CPNG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.