Coupang, Inc. $CPNG is Altimeter Capital Management LP's 9th Largest Position

Key Points

• Altimeter Capital Management LP increased its position in Coupang, Inc. by 24.3%, owning 7,441,445 shares worth approximately $163 million, making it the ninth largest position in their investment portfolio.
• Other institutional investors, like Dodge & Cox, raised their stakes significantly, with Dodge & Cox increasing its ownership by 101.6% during the first quarter, now holding nearly 40.8 million shares valued at $894 million.
• Coupang reported a 16.4% year-over-year revenue growth for the most recent quarter, with earnings per share of $0.02, missing the consensus estimate of $0.07.

Altimeter Capital Management LP grew its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 24.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,441,445 shares of the company's stock after purchasing an additional 1,455,555 shares during the quarter. Coupang makes up 3.3% of Altimeter Capital Management LP's investment portfolio, making the stock its 9th largest position. Altimeter Capital Management LP owned approximately 0.41% of Coupang worth $163,191,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC acquired a new stake in Coupang during the 1st quarter worth $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Coupang during the 1st quarter worth $30,000. Grove Bank & Trust acquired a new stake in Coupang during the 1st quarter worth $33,000. Brooklyn Investment Group raised its stake 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 acquiring an additional 506 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake 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 acquiring an additional 2,149 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Coupang Price Performance

Shares of NYSE CPNG traded up $0.17 on Friday, hitting $28.90. The company's stock had a trading volume of 8,132,816 shares, compared to its average volume of 7,959,836. Coupang, Inc. has a 12-month low of $19.02 and a 12-month high of $31.65. The company has a market capitalization of $52.68 billion, a price-to-earnings ratio of 144.48 and a beta of 1.15. 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 has a 50 day moving average of $29.41 and a 200-day moving average of $26.40.

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

Insider Buying and Selling

In related news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $28.25, for a total transaction of $282,500,000.00. Following the completion of the transaction, the insider owned 309,542,259 shares of the company's stock, valued at approximately $8,744,568,816.75. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction on 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 directly owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. The trade was a 3.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,087,003 shares of company stock valued at $284,933,545. Insiders own 12.78% of the company's stock.

Coupang Profile

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.