Coupang, Inc. (NYSE:CPNG) Shares Sold by Global Endowment Management LP

Key Points

• Global Endowment Management LP significantly reduced its stake in Coupang, Inc. by 80.9%, selling 91,770 shares and leaving them with 21,600 shares valued at approximately $474,000.
• Major shareholder Svf Investments (UK) Ltd sold 10 million shares of Coupang at an average price of $28.25, totaling around $282.5 million, which decreased their ownership by 3.13%.
• Coupang's stock has received varied ratings from analysts, with Nomura upgrading it to a "buy" rating and a target price of $35.00, while others issued hold ratings, leading to a consensus rating of "Moderate Buy" with a target price of $30.57.

Global Endowment Management LP trimmed its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 80.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,600 shares of the company's stock after selling 91,770 shares during the period. Global Endowment Management LP's holdings in Coupang were worth $474,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Coupang during the 1st quarter valued at approximately $30,000. Grove Bank & Trust acquired a new stake in shares of Coupang during the 1st quarter valued at approximately $33,000. Itau Unibanco Holding S.A. raised its position in shares of Coupang by 520.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after acquiring an additional 1,640 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after acquiring an additional 1,429 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of Coupang by 23.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company's stock valued at $70,000 after acquiring an additional 606 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.25, for a total value of $282,500,000.00. Following the completion of the transaction, the insider owned 309,542,259 shares of the company's stock, valued at approximately $8,744,568,816.75. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Pranam Kolari sold 11,653 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the completion of the transaction, the vice president directly owned 158,676 shares of the company's stock, valued at approximately $4,623,818.64. The trade was a 6.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,462,003 shares of company stock worth $295,524,795. 12.78% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CPNG shares. Nomura raised Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research report on Wednesday, August 6th. Barclays upped their price target on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a research note on Wednesday, August 6th. Finally, Nomura Securities upgraded Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.57.

Coupang Price Performance

Shares of CPNG opened at $28.14 on Friday. The company has a market cap of $51.30 billion, a P/E ratio of 140.71 and a beta of 1.16. The stock has a fifty day moving average price of $29.43 and a 200 day moving average price of $25.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $31.65.

Coupang (NYSE:CPNG - Get Free Report) last issued 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 company had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.34 billion. During the same quarter in the previous year, the company earned $0.07 earnings per share. Coupang's quarterly revenue was up 16.4% compared to the same quarter last year. On average, research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

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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