Alberta Investment Management Corp Sells 20,238 Shares of Coupang, Inc. (NYSE:CPNG)

Key Points

• Alberta Investment Management Corp has reduced its stake in Coupang, Inc. by 4.2%, now holding 461,670 shares worth about $10.1 million after selling 20,238 shares.
• Coupang reported an earnings miss with $0.06 EPS compared to expectations of $0.07, along with revenue of $7.91 billion, below the forecast of $8.02 billion.
• The stock has experienced a 2.3% decline in trading, with a current market cap of $52.20 billion and a 52-week range of $18.16 to $31.65.

Alberta Investment Management Corp decreased its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 461,670 shares of the company's stock after selling 20,238 shares during the quarter. Alberta Investment Management Corp's holdings in Coupang were worth $10,124,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake 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 worth $1,663,594,000 after acquiring an additional 17,123,637 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Coupang by 436.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock worth $190,497,000 after acquiring an additional 7,067,830 shares during the last quarter. Durable Capital Partners LP increased its stake in Coupang by 13.6% during the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after purchasing an additional 3,420,133 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Coupang by 106.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company's stock worth $127,017,000 after purchasing an additional 2,979,981 shares in the last quarter. Finally, FMR LLC increased its stake in Coupang by 9.1% during the 4th quarter. FMR LLC now owns 29,619,581 shares of the company's stock worth $651,038,000 after purchasing an additional 2,465,973 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Insider Buying and Selling at Coupang

In related news, Director Benjamin Sun sold 200,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the transaction, the director directly owned 1,319,421 shares in the company, valued at approximately $37,418,779.56. The trade was a 13.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the completion of the transaction, the insider owned 319,542,259 shares in the company, valued at approximately $8,228,213,169.25. This represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,462,003 shares of company stock valued at $1,067,897,453 in the last 90 days. Company insiders own 12.78% of the company's stock.

Analyst Upgrades and Downgrades

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

Coupang Stock Up 3.0%

Shares of CPNG stock traded up $0.87 during trading on Monday, reaching $29.61. The company's stock had a trading volume of 9,949,115 shares, compared to its average volume of 9,453,162. The business has a fifty day moving average price of $29.39 and a 200-day moving average price of $25.56. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a market cap of $53.76 billion, a price-to-earnings ratio of 211.50 and a beta of 1.16. Coupang, Inc. has a one year low of $18.16 and a one year high of $31.65.

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