Dark Forest Capital Management LP Purchases 152,161 Shares of Coupang, Inc. $CPNG

Key Points

• Dark Forest Capital Management LP increased its stake in Coupang, Inc. by 460.8% in the 1st quarter, acquiring an additional 152,161 shares to own a total of 185,182 shares valued at approximately $4.06 million.
• Coupang reported $0.02 earnings per share (EPS) for the latest quarter, missing estimates of $0.07, despite revenue rising 16.4% year-over-year to $8.52 billion.
• Following insider transactions, including a significant sale by the CFO, company insiders have sold approximately 10.08 million shares of Coupang worth nearly $285 million in the last quarter.

Dark Forest Capital Management LP increased its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 460.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,182 shares of the company's stock after buying an additional 152,161 shares during the quarter. Dark Forest Capital Management LP's holdings in Coupang were worth $4,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPNG. The Manufacturers Life Insurance Company grew its stake in Coupang by 2.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 68,205 shares of the company's stock valued at $1,499,000 after purchasing an additional 1,438 shares in the last quarter. AQR Capital Management LLC grew its stake in Coupang by 21.7% in the fourth quarter. AQR Capital Management LLC now owns 301,496 shares of the company's stock valued at $6,627,000 after purchasing an additional 53,728 shares in the last quarter. Comerica Bank grew its stake in Coupang by 4.1% in the fourth quarter. Comerica Bank now owns 16,546 shares of the company's stock valued at $364,000 after purchasing an additional 652 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Coupang in the fourth quarter worth about $6,028,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of Coupang in the fourth quarter worth about $347,000. Hedge funds and other institutional investors own 83.72% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Nomura raised 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, August 6th. Morgan Stanley boosted their price target on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a research report on Wednesday, August 6th. Nomura Securities raised Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $31.14.

Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 11,653 shares of the company's stock in a transaction that occurred 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 owned 158,676 shares of the company's stock, valued at $4,623,818.64. This represents a 6.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the transaction, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at approximately $56,050,762.60. The trade was a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,087,003 shares of company stock valued at $284,933,545 in the last quarter. Corporate insiders own 12.78% of the company's stock.

Coupang Stock Performance

Coupang stock traded up $2.47 during trading hours on Monday, hitting $31.38. The stock had a trading volume of 19,452,318 shares, compared to its average volume of 9,432,244. The company has a 50-day moving average of $29.41 and a two-hundred day moving average of $26.41. 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 company has a market cap of $57.21 billion, a PE ratio of 156.07 and a beta of 1.15. 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 posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company's revenue was up 16.4% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. On average, equities research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Coupang Company 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.