Coupang, Inc. (NYSE:CPNG) Shares Acquired by Altfest L J & Co. Inc.

Key Points

• Altfest L J & Co. Inc. increased its stake in Coupang, Inc. by 130.9%, owning a total of 24,113 shares valued at approximately $529,000.
• Analysts have mixed ratings on Coupang, with Deutsche Bank lowering its rating to "hold" and setting a price target of $27, while Barclays raised its target to $36.
• Coupang reported a quarterly revenue of $8.52 billion, exceeding estimates, but posted earnings of $0.02 per share, missing expectations of $0.07 per share.

Altfest L J & Co. Inc. boosted its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 130.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,113 shares of the company's stock after purchasing an additional 13,672 shares during the quarter. Altfest L J & Co. Inc.'s holdings in Coupang were worth $529,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in Coupang by 29.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock valued at $1,663,594,000 after purchasing an additional 17,123,637 shares during the period. Durable Capital Partners LP boosted its position in Coupang by 13.6% during the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock valued at $629,426,000 after purchasing an additional 3,420,133 shares during the period. Dragoneer Investment Group LLC boosted its position in Coupang by 9.0% during the 4th quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock valued at $451,497,000 after purchasing an additional 1,690,826 shares during the period. Dodge & Cox boosted its position in Coupang by 0.6% during the 4th quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock valued at $444,640,000 after purchasing an additional 123,900 shares during the period. Finally, HMI Capital Management L.P. boosted its position in Coupang by 4.2% during the 4th quarter. HMI Capital Management L.P. now owns 11,662,498 shares of the company's stock valued at $256,342,000 after purchasing an additional 470,000 shares during the period. Institutional investors and hedge funds own 83.72% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CPNG. Deutsche Bank Aktiengesellschaft lowered Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a research report on Wednesday. Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. Barclays boosted their price target on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Nomura Securities upgraded Coupang to a "strong-buy" rating in a research report on Wednesday. Finally, Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.57.

Coupang Stock Down 1.0%

CPNG opened at $27.80 on Friday. Coupang, Inc. has a one year low of $19.02 and a one year high of $31.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.09. The stock's fifty day moving average is $29.46 and its 200-day moving average is $25.70. The company has a market capitalization of $50.48 billion, a PE ratio of 139.02 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%. The firm had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. During the same period in the prior year, the firm posted $0.07 EPS. The firm's quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts predict that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Benjamin Sun sold 200,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total value of $5,672,000.00. Following the sale, the director owned 1,319,421 shares of the company's stock, valued at approximately $37,418,779.56. The trade was a 13.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greenoaks Capital Partners Llc acquired 650,000 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was purchased at an average cost of $26.86 per share, for a total transaction of $17,459,000.00. Following the purchase, the director directly owned 55,131,161 shares in the company, valued at approximately $1,480,822,984.46. This represents a 1.19% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 10,462,003 shares of company stock worth $295,397,453. 12.78% of the stock is owned by corporate insiders.

About Coupang

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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