Coupang, Inc. $CPNG Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Coupang stake by 29.5%, selling 74,821 shares in the third quarter; it retained 178,956 shares valued at about $2.48 million.
• Coupang’s latest quarterly revenue of $9.96 billion topped estimates and grew 7.5% year over year, but its $0.18-per-share loss was worse than analysts’ expected $0.09 loss.
• Analyst views are mixed: Barclays and Citi issued bullish ratings, while Bernstein rated the stock Underperform; the consensus rating was Hold with a $23.41 price target.

Sumitomo Mitsui Trust Group Inc. reduced its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 29.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 178,956 shares of the company's stock after selling 74,821 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Coupang were worth $2,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Coupang by 652.6% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,702 shares of the company's stock worth $37,000 after acquiring an additional 2,343 shares in the last quarter. Main Street Group LTD bought a new position in Coupang in the first quarter valued at approximately $40,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Coupang in the third quarter valued at approximately $40,000. Trellis Wealth Advisors LLC bought a new position in Coupang in the third quarter valued at approximately $44,000. Finally, Versant Capital Management Inc increased its stake in Coupang by 94.6% in the third quarter. Versant Capital Management Inc now owns 3,478 shares of the company's stock valued at $48,000 after acquiring an additional 1,691 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Trading Down 0.9%

CPNG opened at $16.27 on Friday. The company has a market cap of $29.25 billion, a P/E ratio of -21.41 and a beta of 1.15. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.16. The company's 50 day moving average is $14.74 and its 200-day moving average is $17.15. Coupang, Inc. has a 1-year low of $13.35 and a 1-year high of $29.50.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.09). The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.76 billion. Coupang had a negative return on equity of 21.51% and a negative net margin of 3.77%. Coupang's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.05 earnings per share. Equities research analysts predict that Coupang, Inc. will post -0.60 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CPNG. Mizuho set a $21.00 price objective on shares of Coupang in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and decreased their price target for the company from $23.00 to $21.50 in a research note on Wednesday, August 5th. Barclays boosted their price target on Coupang from $29.00 to $32.00 and gave the stock an "overweight" rating in a report on Thursday. Sanford C. Bernstein lowered their price target on Coupang from $12.00 to $11.00 and set an "underperform" rating for the company in a report on Thursday. Finally, Citigroup upgraded Coupang from a "neutral" rating to a "buy" rating and set a $19.00 price objective for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $23.41.

Insiders Place Their Bets

In other news, insider Harold Rogers sold 192,110 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the transaction, the insider directly owned 740,931 shares in the company, valued at approximately $11,988,263.58. This represents a 20.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jonathan D. Lee sold 5,519 shares of the firm's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $13.65, for a total value of $75,334.35. Following the sale, the chief accounting officer directly owned 176,396 shares in the company, valued at approximately $2,407,805.40. This trade represents a 3.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 203,148 shares of company stock worth $3,272,530. Insiders own 12.83% of the company's stock.

Coupang News Roundup

Here are the key news stories impacting Coupang this week:

• Positive Sentiment: Analyst actions are broadly supportive: Barclays raised its price target to $32 and maintained an Overweight rating, while Citi upgraded Coupang to Buy with a $19 target. Barclays rating Citi upgrade
• Positive Sentiment: Q3 constant-currency revenue grew 11% year over year, and Taiwan WOW membership more than doubled. These growth figures may help reinforce the longer-term expansion story. Q3 investor takeaways
• Neutral Sentiment: Wall Street analyst coverage remains divided: Bernstein cut its target to $11 and kept an Underperform rating, contrasting with the recent upgrades. Bernstein rating
• Negative Sentiment: A Seoul court dismissed Coupang’s suit challenging a fine from South Korea’s data-protection agency, leaving an adverse regulatory decision in place and adding legal risk. Court ruling
• Negative Sentiment: Despite revenue exceeding estimates, Coupang’s latest quarterly EPS missed analysts’ expectations, and coverage highlighted widening losses. That earnings-quality concern may temper optimism around the growth and analyst upgrades. Q3 growth and losses analysis

Coupang Company Profile

Coupang, Inc is an e-commerce and technology company best known for its online marketplace in South Korea. The platform offers products across categories such as electronics, apparel, household goods and groceries, combining third-party sellers with retail operations and a network of fulfillment and delivery services.

Its services include Rocket Delivery for rapid shipping, Rocket Fresh for grocery delivery and Coupang Eats for food delivery. Coupang also offers Coupang Play, a video-streaming service, and operates a paid membership program called Rocket Wow.

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