Coupang, Inc. $CPNG Stock Bought by Hosking Partners LLP

Key Points

• Hosking Partners increased its Coupang stake by 4% in the third quarter, adding 79,118 shares to own 2.07 million shares valued at approximately $28.7 million. Institutional investors and hedge funds collectively own 83.72% of the company.
• Analyst sentiment is mixed: five analysts rate Coupang a Buy, four Hold, and two Sell, resulting in an average rating of Hold and an average price target of $24.06.
• Coupang shares opened at $13.87, near their 12-month low of $13.35, while the company reported a quarterly loss of $0.09 per share—better than estimates—but revenue of $8.86 billion fell slightly short of expectations. Insiders sold more than 203,000 shares worth about $3.27 million over the past 90 days.

Hosking Partners LLP increased its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,070,895 shares of the company's stock after acquiring an additional 79,118 shares during the quarter. Hosking Partners LLP owned about 0.12% of Coupang worth $28,723,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Trellis Wealth Advisors LLC bought a new stake in Coupang in the 3rd quarter valued at $44,000. Vontobel Holding Ltd. acquired a new stake in Coupang in the 3rd quarter worth $160,000. Assenagon Asset Management S.A. grew its position in Coupang by 112.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 28,102,139 shares of the company's stock worth $389,777,000 after purchasing an additional 14,865,737 shares during the last quarter. Retirement Planning Co of New England Inc. increased its holdings in shares of Coupang by 25.2% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 20,133 shares of the company's stock worth $279,000 after purchasing an additional 4,050 shares during the period. Finally, Ulland Investment Advisors LLC increased its holdings in shares of Coupang by 132.6% during the 3rd quarter. Ulland Investment Advisors LLC now owns 8,375 shares of the company's stock worth $116,000 after purchasing an additional 4,775 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Bank of America cut their price objective on shares of Coupang from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and reduced their target price for the company from $23.00 to $21.50 in a research note on Wednesday, August 5th. Weiss Ratings reissued a "sell (d)" rating on shares of Coupang in a research report on Tuesday, August 4th. Barclays reissued an "overweight" rating and set a $29.00 target price on shares of Coupang in a research report on Tuesday, July 7th. Finally, The Goldman Sachs Group set a $31.00 price target on Coupang in a research note on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Coupang presently has an average rating of "Hold" and an average target price of $24.06.

Coupang Stock Down 3.2%

Shares of CPNG opened at $13.87 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $15.06 and a two-hundred day moving average price of $16.71. The stock has a market cap of $24.92 billion, a price-to-earnings ratio of -32.24 and a beta of 1.17. Coupang, Inc. has a 12 month low of $13.35 and a 12 month high of $32.35.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.18. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%. The company had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the company posted $0.02 EPS. The company's revenue was up 3.9% compared to the same quarter last year. Equities analysts predict that Coupang, Inc. will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Coupang

In related news, insider Harold Rogers sold 192,110 shares of the business's 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 sale, the insider owned 740,931 shares of the company's stock, valued at $11,988,263.58. The trade was a 20.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jonathan D. Lee sold 5,519 shares of the company'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 completion of the sale, the chief accounting officer owned 176,396 shares in the company, valued at $2,407,805.40. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 203,148 shares of company stock worth $3,272,530. 12.83% of the stock is owned by insiders.

Coupang Company Profile

Coupang, Inc is an e-commerce and technology company that operates a large digital retail platform. The company offers a broad selection of merchandise, including electronics, household goods, apparel, beauty products and groceries. Its services include Rocket Delivery, a fast-delivery program; Rocket Fresh, which focuses on fresh food and groceries; and Wow, a membership program that provides delivery and other customer benefits.

Coupang also operates Coupang Eats, a restaurant-ordering and delivery service, as well as Coupang Play, a digital video streaming platform.

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