Coupang, Inc. (NYSE:CPNG) Stake Lessened by CenterBook Partners LP

CenterBook Partners LP lowered its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 50.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,152 shares of the company's stock after selling 18,314 shares during the quarter. CenterBook Partners LP's holdings in Coupang were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Davidson Kahn Capital Management LLC boosted its position in shares of Coupang by 31.6% during the first quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock worth $2,271,000 after buying an additional 24,877 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Coupang by 40.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock valued at $6,776,000 after acquiring an additional 87,412 shares during the last quarter. Deutsche Bank AG raised its stake in Coupang by 25.7% during the 4th quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock valued at $1,997,000 after acquiring an additional 18,593 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Coupang during the 1st quarter valued at approximately $241,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Coupang during the 4th quarter worth approximately $1,394,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of Coupang stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the sale, the insider owned 319,542,259 shares of the company's stock, valued at approximately $8,228,213,169.25. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gaurav Anand sold 175,000 shares of Coupang stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total value of $4,919,250.00. Following the sale, the chief financial officer directly owned 2,092,290 shares in the company, valued at approximately $58,814,271.90. This trade represents a 7.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,459,697 shares of company stock valued at $1,067,780,811. 12.78% of the stock is owned by company insiders.

Analyst Ratings Changes

CPNG has been the topic of a number of research reports. Barclays upped their price target on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Mizuho upgraded Coupang to a "hold" rating in a report on Friday, April 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.08.

Coupang Stock Up 1.2%

NYSE:CPNG traded up $0.37 during mid-day trading on Friday, hitting $31.52. The company had a trading volume of 7,290,157 shares, compared to its average volume of 8,373,612. The business has a fifty day simple moving average of $28.78 and a 200-day simple moving average of $24.99. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $31.60. The firm has a market capitalization of $57.23 billion, a price-to-earnings ratio of 225.14 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. Coupang had a net margin of 0.82% and a return on equity of 10.07%. The business's revenue was up 11.2% compared to the same quarter last year. Equities analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

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.