Coupang, Inc. $CPNG Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its stake in Coupang by 6.4%, now owning approximately 0.40% of the company's shares, valued at $156.6 million.
• In a recent earnings report, Coupang missed the consensus estimate with an EPS of $0.02 and reported revenue of $8.52 billion, a 16.4% increase year-over-year.
• Major analysts have raised their price targets for Coupang, with Morgan Stanley and Nomura both setting targets of $35.00, reflecting positive outlooks for the stock.

Wellington Management Group LLP lowered its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,142,494 shares of the company's stock after selling 487,611 shares during the quarter. Wellington Management Group LLP owned 0.40% of Coupang worth $156,635,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CPNG. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Coupang in the 1st quarter valued at about $30,000. Grove Bank & Trust acquired a new stake in shares of Coupang during the 1st quarter worth about $33,000. Brooklyn Investment Group boosted its stake in shares of Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after purchasing an additional 506 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake 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 last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after purchasing an additional 1,429 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, VP Pranam Kolari sold 11,653 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $29.14, for a total transaction of $339,568.42. Following the completion of the sale, the vice president owned 158,676 shares in the company, valued at $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gaurav Anand sold 75,350 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the transaction, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at approximately $56,050,762.60. This trade represents a 3.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,462,003 shares of company stock worth $295,524,795 in the last ninety days. 12.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CPNG. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock 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. Barclays lifted their price target on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Coupang presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.

Coupang Stock Down 0.8%

Shares of NYSE:CPNG traded down $0.2250 during midday trading on Monday, reaching $28.5250. The company had a trading volume of 2,917,359 shares, compared to its average volume of 9,450,496. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The stock's fifty day moving average price is $29.48 and its 200-day moving average price is $26.14. The stock has a market capitalization of $52.00 billion, a P/E ratio of 142.63 and a beta of 1.16. Coupang, Inc. has a one year low of $19.02 and a one year high of $31.65.

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

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.