Coupang, Inc. $CPNG Stock Purchased by Sepio Capital LP

Key Points

• Sepio Capital significantly increased its Coupang stake by 1,284.5% in the third quarter, purchasing 1.47 million additional shares and bringing its holdings to 1.59 million shares worth approximately $22 million.
• Institutional ownership remains high, with hedge funds and other institutions holding 83.72% of Coupang’s outstanding stock. Other major investors, including Tiger Global, Assenagon Asset Management, and Coronation Fund Managers, also increased their positions.
• Analyst sentiment is mixed: five analysts rate Coupang a Buy, four a Hold, and two a Sell, producing an average “Hold” rating and a consensus price target of $24.06 versus the stock’s reported price of $13.99.

Sepio Capital LP raised its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 1,284.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,586,760 shares of the company's stock after purchasing an additional 1,472,153 shares during the quarter. Coupang accounts for approximately 0.9% of Sepio Capital LP's portfolio, making the stock its 22nd largest position. Sepio Capital LP owned about 0.09% of Coupang worth $22,008,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Tiger Global Management LLC raised its holdings in shares of Coupang by 31.7% in the 1st quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company's stock valued at $653,161,000 after buying an additional 8,328,148 shares during the period. Assenagon Asset Management S.A. lifted its stake in Coupang by 112.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 28,102,139 shares of the company's stock worth $389,777,000 after acquiring an additional 14,865,737 shares in the last quarter. Coronation Fund Managers Ltd. boosted its holdings in Coupang by 98.3% during the 1st quarter. Coronation Fund Managers Ltd. now owns 11,771,286 shares of the company's stock valued at $222,242,000 after acquiring an additional 5,835,072 shares during the period. Dimensional Fund Advisors LP grew its position in Coupang by 20.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,766 shares of the company's stock valued at $82,404,000 after acquiring an additional 732,300 shares in the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. purchased a new stake in Coupang during the second quarter worth about $67,743,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Coupang Stock Performance

Shares of CPNG stock opened at $13.99 on Friday. The company has a market cap of $25.15 billion, a P/E ratio of -32.54 and a beta of 1.17. The firm has a fifty day moving average price of $15.01 and a 200 day moving average price of $16.67. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. 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 posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.18. The company had revenue of $8.86 billion for the quarter, compared to analysts' expectations of $8.92 billion. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%. Coupang's quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share. Sell-side analysts predict that Coupang, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In related news, CAO Jonathan D. Lee sold 5,519 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $13.65, for a total transaction 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. The trade was a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were 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 of the company's stock, valued at $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 203,148 shares of company stock worth $3,272,530. Company insiders own 12.83% of the company's stock.

About Coupang

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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