DAVENPORT & Co LLC Invests $470,000 in Coupang, Inc. $CPNG

Key Points

• DAVENPORT & Co LLC has invested approximately $470,000 in Coupang, Inc., acquiring 15,691 shares during the 2nd quarter.
• Institutional investors now own 83.72% of Coupang's stock, with several others increasing their stakes or acquiring new positions recently.
• Coupang reported $8.52 billion in revenue for the last quarter, exceeding consensus estimates, despite missing earnings per share expectations.

DAVENPORT & Co LLC purchased a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,691 shares of the company's stock, valued at approximately $470,000.

Several other hedge funds also recently modified their holdings of CPNG. Dodge & Cox increased its stake in shares of Coupang by 101.6% during the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock worth $894,413,000 after purchasing an additional 20,555,600 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Coupang during the 1st quarter worth $168,127,000. Massachusetts Financial Services Co. MA increased its stake in shares of 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 purchasing an additional 7,067,830 shares during the last quarter. Nuveen LLC acquired a new position in shares of Coupang during the 1st quarter worth $75,775,000. Finally, Altimeter Capital Management LP increased its stake in shares of Coupang by 24.3% during the 1st quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company's stock worth $163,191,000 after purchasing an additional 1,455,555 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Coupang Price Performance

Shares of Coupang stock opened at $31.26 on Monday. 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 fifty-two week low of $19.02 and a fifty-two week high of $34.08. The firm has a fifty day moving average price of $30.49 and a two-hundred day moving average price of $28.00. The company has a market cap of $56.98 billion, a PE ratio of 156.28 and a beta of 1.18.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. During the same period last year, the company earned $0.07 earnings per share. Coupang's revenue for the quarter was up 16.4% on a year-over-year basis. Analysts expect that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Transactions at Coupang

In other Coupang news, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the sale, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. This represents a 3.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pedro Franceschi sold 21,428 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on CPNG shares. Arete Research started coverage on shares of Coupang in a research note on Thursday, September 18th. They set a "buy" rating and a $40.00 price target on the stock. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Arete started coverage on shares of Coupang in a report on Thursday, September 18th. They set a "buy" rating and a $40.00 price objective for the company. Zacks Research downgraded shares of Coupang from a "hold" rating to a "strong sell" rating in a report on Monday, October 6th. Finally, Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Coupang has an average rating of "Moderate Buy" and a consensus price target of $33.50.

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.

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