Coupang, Inc. $CPNG Stock Sold by Davidson Kahn Capital Management LLC

Key Points

• Davidson Kahn Capital Management reduced its Coupang stake by 36.9% in the third quarter, selling 101,702 shares and retaining 173,908 shares valued at approximately $2.4 million.
• Other major institutional investors increased their positions, and institutional ownership stood at 83.72% of Coupang’s outstanding stock. Company insiders sold 203,148 shares worth about $3.27 million during the latest quarter.
• Coupang shares opened at $13.73, near their 52-week low, while analysts held a consensus “Hold” rating with an average price target of $24.06. The company exceeded quarterly EPS expectations but reported a net loss and revenue slightly below estimates.

Davidson Kahn Capital Management LLC decreased its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 36.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,908 shares of the company's stock after selling 101,702 shares during the quarter. Coupang makes up 1.0% of Davidson Kahn Capital Management LLC's holdings, making the stock its 24th largest holding. Davidson Kahn Capital Management LLC's holdings in Coupang were worth $2,412,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Tiger Global Management LLC raised its position 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 purchasing an additional 8,328,148 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings 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 buying an additional 14,865,737 shares during the period. Coronation Fund Managers Ltd. lifted its stake 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 boosted its holdings in Coupang by 20.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,366,766 shares of the company's stock valued at $82,404,000 after purchasing an additional 732,300 shares during the last quarter. Finally, RDST Capital LLC boosted its position in Coupang by 69.3% in the 1st quarter. RDST Capital LLC now owns 3,646,900 shares of the company's stock worth $68,853,000 after purchasing an additional 1,492,500 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Insider Buying and Selling

In other Coupang news, insider Harold Rogers sold 192,110 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the transaction, the insider directly owned 740,931 shares in the company, valued at $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer owned 176,396 shares in the company, valued at approximately $2,407,805.40. This trade represents a 3.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 203,148 shares of company stock valued at $3,272,530 over the last quarter. Corporate insiders own 12.83% of the company's stock.

Coupang Stock Performance

Coupang stock opened at $13.73 on Tuesday. Coupang, Inc. has a fifty-two week low of $13.35 and a fifty-two week high of $32.35. The company has a market capitalization of $24.69 billion, a price-to-earnings ratio of -31.94 and a beta of 1.17. The stock has a fifty day moving average of $14.94 and a two-hundred day moving average of $17.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) 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 firm had revenue of $8.86 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the firm earned $0.02 EPS. The firm's quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts anticipate that Coupang, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on CPNG. Weiss Ratings reissued a "sell (d)" rating on shares of Coupang in a research note on Tuesday, August 4th. Mizuho set a $22.00 target price on shares of Coupang in a report on Wednesday, August 5th. Bank of America dropped their price objective on Coupang from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Barclays reissued an "overweight" rating and issued a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a research note on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $24.06.

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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