Coupang, Inc. (NYSE:CPNG) Holdings Lifted by Allen Investment Management LLC

Key Points

• Allen Investment Management LLC has increased its stake in Coupang, Inc. by 16.0%, now holding over 1 million shares valued at approximately $22.89 million.
• Recent research reports indicate a mixed outlook for Coupang, with Barclays raising its price target to $36.00 while overall ratings lean towards a consensus of "Moderate Buy" with a target price of $30.08.
• Insider transactions revealed significant stock sales, including major shareholder Svf Investments selling 10 million shares for $282.5 million, while corporate insiders now own 12.78% of the company.

Allen Investment Management LLC increased its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 16.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,043,757 shares of the company's stock after acquiring an additional 144,024 shares during the period. Allen Investment Management LLC owned approximately 0.06% of Coupang worth $22,890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPNG. Stevens Capital Management LP boosted its position in shares of Coupang by 12.6% during the 1st quarter. Stevens Capital Management LP now owns 13,677 shares of the company's stock valued at $300,000 after purchasing an additional 1,529 shares in the last quarter. Cetera Investment Advisers lifted its stake in Coupang by 9.2% during the first quarter. Cetera Investment Advisers now owns 84,606 shares of the company's stock valued at $1,855,000 after purchasing an additional 7,148 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in Coupang by 11.8% during the first quarter. Avantax Advisory Services Inc. now owns 25,572 shares of the company's stock worth $561,000 after buying an additional 2,690 shares in the last quarter. Machina Capital S.A.S. grew its position in Coupang by 396.5% in the first quarter. Machina Capital S.A.S. now owns 166,186 shares of the company's stock worth $3,644,000 after buying an additional 132,715 shares during the last quarter. Finally, Oak Thistle LLC grew its position in Coupang by 84.9% in the first quarter. Oak Thistle LLC now owns 138,860 shares of the company's stock worth $3,045,000 after buying an additional 63,757 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CPNG has been the subject of a number of recent research reports. Barclays increased their price objective on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Mizuho raised Coupang to a "hold" rating in a report on Friday, April 18th. Finally, Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Coupang currently has an average rating of "Moderate Buy" and a consensus target price of $30.08.

Insider Activity

In other news, VP Pranam Kolari sold 9,347 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the completion of the sale, the vice president directly owned 177,106 shares of the company's stock, valued at $4,223,978.10. This represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the business'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 transaction, the insider directly owned 309,542,259 shares in the company, valued at $8,744,568,816.75. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,459,697 shares of company stock worth $1,067,780,811. Corporate insiders own 12.78% of the company's stock.

Coupang Trading Up 0.4%

NYSE CPNG opened at $30.26 on Friday. The firm's 50 day moving average price is $29.17 and its two-hundred day moving average price is $25.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.16. Coupang, Inc. has a twelve month low of $18.16 and a twelve month high of $31.65. The stock has a market cap of $54.93 billion, a price-to-earnings ratio of 216.11 and a beta of 1.16.

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

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