Coupang, Inc. (NYSE:CPNG) Shares Sold by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management significantly reduced its holdings in Coupang, Inc. by 83.1% in Q1, selling over 126,000 shares and now owning approximately $562,000 worth of stock.
• Insiders sold 40.46 million shares of Coupang stock valued at over $1 billion in the last three months, indicating a decrease in ownership among key stakeholders.
• Coupang's recent quarterly earnings report showed an EPS of $0.06, missing estimates of $0.07, with revenues of $7.91 billion, slightly below the expected $8.02 billion.

Neo Ivy Capital Management trimmed its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 83.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,620 shares of the company's stock after selling 126,039 shares during the period. Neo Ivy Capital Management's holdings in Coupang were worth $562,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CPNG. California State Teachers Retirement System lifted its position in shares of Coupang by 0.5% during the 4th quarter. California State Teachers Retirement System now owns 85,489 shares of the company's stock valued at $1,879,000 after acquiring an additional 445 shares during the last quarter. Virtus ETF Advisers LLC lifted its position in shares of Coupang by 1.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company's stock valued at $975,000 after acquiring an additional 466 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in shares of Coupang by 4.2% during the 1st quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company's stock valued at $258,000 after acquiring an additional 476 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Coupang by 8.6% during the 4th quarter. National Bank of Canada FI now owns 6,944 shares of the company's stock valued at $153,000 after acquiring an additional 548 shares during the last quarter. Finally, Snowden Capital Advisors LLC lifted its position in shares of Coupang by 1.2% during the 4th quarter. Snowden Capital Advisors LLC now owns 49,908 shares of the company's stock valued at $1,097,000 after acquiring an additional 603 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on CPNG. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Mizuho raised shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Finally, Barclays boosted their target price 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.08.

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 9,347 shares of the company's stock in a transaction 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 transaction, the vice president directly owned 177,106 shares of the company's stock, valued at approximately $4,223,978.10. This represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 stock was 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 directly owned 319,542,259 shares in the company, valued at $8,228,213,169.25. This trade represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,459,697 shares of company stock valued at $1,067,780,811 in the last three months. Company insiders own 12.78% of the company's stock.

Coupang Trading Up 0.4%

NYSE CPNG opened at $30.26 on Friday. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $31.65. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $54.93 billion, a PE ratio of 216.11 and a beta of 1.16. The firm's fifty day simple moving average is $29.17 and its 200-day simple moving average is $25.25.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). Coupang had a return on equity of 10.07% and a net margin of 0.82%. The company had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. The firm's revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts anticipate 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.

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