Russell Investments Group Ltd. Sells 345,051 Shares of Coupang, Inc. (NYSE:CPNG)

Key Points

• In the 1st quarter, Russell Investments Group Ltd. reduced its stake in Coupang by 11.5%, ending with approximately 2.66 million shares valued at $58.4 million.
• Coupang's revenue for the last quarter reached $8.52 billion, exceeding analysts' expectations, despite the company posting an EPS of only $0.02, missing the consensus estimate.
• Insiders have sold a significant amount of stock recently, with one major shareholder selling 10 million shares for over $282 million, decreasing their stake by 3.13%.

Russell Investments Group Ltd. lessened its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,660,950 shares of the company's stock after selling 345,051 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.15% of Coupang worth $58,404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased 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 worth $1,663,594,000 after buying an additional 17,123,637 shares during the period. Durable Capital Partners LP raised its stake in Coupang by 13.6% in 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. Dragoneer Investment Group LLC boosted its holdings in Coupang by 9.0% in 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. HMI Capital Management L.P. grew its position in shares of Coupang by 4.2% during the 4th quarter. HMI Capital Management L.P. now owns 11,662,498 shares of the company's stock worth $256,342,000 after purchasing an additional 470,000 shares in the last quarter. Finally, Foxhaven Asset Management LP grew its position in shares of Coupang by 7.9% during the 4th quarter. Foxhaven Asset Management LP now owns 11,417,962 shares of the company's stock worth $250,967,000 after purchasing an additional 833,212 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research report on Wednesday, August 6th. Barclays raised their target price on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Nomura Securities raised shares of Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Three investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.57.

Coupang Stock Down 0.7%

CPNG traded down $0.19 during trading on Friday, hitting $28.14. 6,975,777 shares of the company's stock were exchanged, compared to its average volume of 11,505,234. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $29.43 and its two-hundred day moving average is $25.95. The stock has a market cap of $51.30 billion, a P/E ratio of 140.71 and a beta of 1.16. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week 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 period in the prior year, the firm posted $0.07 earnings per share. The business's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of Coupang stock in a transaction 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 of the company's stock, valued at $8,744,568,816.75. The trade was a 3.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the sale, the chief financial officer owned 2,016,940 shares of the company's stock, valued at approximately $56,050,762.60. This represents a 3.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,462,003 shares of company stock valued at $295,524,795. 12.78% of the stock is owned by corporate insiders.

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.