Davis Selected Advisers Sells 30,895 Shares of Coupang, Inc. (NYSE:CPNG)

Key Points

• Davis Selected Advisers reduced its stake in Coupang, Inc. by 0.5%, now holding approximately 5,880,990 shares, making it the firm's 29th largest holding.
• Coupang reported a quarterly revenue of $8.52 billion, surpassing analyst estimates of $8.34 billion, but missed earnings per share expectations with $0.02 EPS.
• Several hedge funds increased their positions in Coupang, with 83.72% of the stock currently owned by institutional investors, indicating strong institutional interest in the company.

Davis Selected Advisers lowered its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,880,990 shares of the company's stock after selling 30,895 shares during the quarter. Coupang comprises approximately 0.7% of Davis Selected Advisers' holdings, making the stock its 29th largest holding. Davis Selected Advisers owned 0.33% of Coupang worth $128,970,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. National Bank of Canada FI grew its stake in shares of Coupang by 182.6% during the first quarter. National Bank of Canada FI now owns 19,623 shares of the company's stock worth $430,000 after purchasing an additional 12,679 shares during the period. Kontiki Capital Management HK Ltd. grew its holdings in shares of Coupang by 3.4% in the 1st quarter. Kontiki Capital Management HK Ltd. now owns 7,210,768 shares of the company's stock valued at $158,132,000 after buying an additional 237,300 shares during the period. Headlands Technologies LLC acquired a new position in shares of Coupang in the 1st quarter valued at $2,072,000. Deutsche Bank AG grew its holdings in shares of Coupang by 19.7% in the 1st quarter. Deutsche Bank AG now owns 108,748 shares of the company's stock valued at $2,385,000 after buying an additional 17,915 shares during the period. Finally, Altfest L J & Co. Inc. grew its holdings in shares of Coupang by 130.9% in the 1st quarter. Altfest L J & Co. Inc. now owns 24,113 shares of the company's stock valued at $529,000 after buying an additional 13,672 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Coupang Trading Down 1.0%

Coupang stock opened at $27.80 on Friday. The firm has a 50-day moving average of $29.46 and a 200-day moving average of $25.70. Coupang, Inc. has a one year low of $19.02 and a one year high of $31.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.90. The company has a market cap of $50.48 billion, a price-to-earnings ratio of 139.02 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last posted 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 business had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. During the same quarter in the prior year, the company earned $0.07 earnings per share. The company's quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CPNG. Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target for the company in a report on Wednesday. Mizuho raised shares of Coupang to a "hold" rating in a report on Friday, April 18th. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a research note on Wednesday. Finally, Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.57.

Insider Activity at Coupang

In other news, CFO Gaurav Anand sold 175,000 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the completion of the transaction, the chief financial officer directly owned 2,092,290 shares in the company, valued at $58,814,271.90. This represents a 7.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Pranam Kolari sold 11,653 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $29.14, for a total transaction of $339,568.42. Following the completion of the sale, the vice president directly owned 158,676 shares in the company, valued at approximately $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,462,003 shares of company stock worth $295,397,453. Corporate insiders own 12.78% of the company's stock.

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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