Coupang, Inc. $CPNG Shares Bought by PDT Partners LLC

Key Points

• PDT Partners LLC significantly increased its stake in Coupang, Inc. by 89.1%, acquiring an additional 122,919 shares for a total of 260,868 shares valued at approximately $5.7 million.
• The company recently reported earnings of $0.02 EPS, missing expectations of $0.07, despite a revenue increase to $8.52 billion, surpassing forecasted estimates.
• Analyst ratings for Coupang stock are mixed, with one Strong Buy, six Buy, and two Hold ratings, and a consensus target price of $31.13.

PDT Partners LLC grew its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 89.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,868 shares of the company's stock after buying an additional 122,919 shares during the quarter. PDT Partners LLC's holdings in Coupang were worth $5,721,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. SVB Wealth LLC purchased a new position in shares of Coupang in the first quarter valued at $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Coupang during the 1st quarter worth about $30,000. Grove Bank & Trust purchased a new stake in Coupang during the 1st quarter worth about $33,000. Brooklyn Investment Group increased its position in 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Coupang by 600.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock worth $55,000 after purchasing an additional 2,149 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CPNG. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research report on Wednesday, August 6th. Morgan Stanley lifted their price objective on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Nomura Securities raised Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lowered Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target on the stock. in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.14.

Coupang Trading Up 0.6%

Shares of NYSE:CPNG traded up $0.17 during trading on Friday, reaching $28.90. 8,132,816 shares of the stock were exchanged, compared to its average volume of 7,959,836. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. Coupang, Inc. has a 12-month low of $19.02 and a 12-month high of $31.65. The firm has a market cap of $52.68 billion, a price-to-earnings ratio of 144.48 and a beta of 1.15. The firm's 50-day moving average price is $29.41 and its 200 day moving average price is $26.40.

Coupang (NYSE:CPNG - Get Free Report) last issued its 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 firm had revenue of $8.52 billion for the quarter, compared to analysts' expectations of $8.34 billion. During the same quarter in the previous year, the firm posted $0.07 EPS. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other news, CFO Gaurav Anand sold 75,350 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the sale, the chief financial officer owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. The trade was a 3.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Pranam Kolari sold 11,653 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the transaction, the vice president directly owned 158,676 shares in the company, valued at $4,623,818.64. This trade represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,087,003 shares of company stock worth $284,933,545. 12.78% of the stock is currently owned by company 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.