Coupang, Inc. $CPNG Shares Sold by Durable Capital Partners LP

Key Points

• Durable Capital Partners LP has reduced its stake in Coupang, Inc. by 19.7%, now owning 23,009,002 shares valued at approximately $504.59 million, making it the third largest position in their portfolio.
• Institutional investors own over 83.72% of Coupang's stock, with notable increases in holdings from several firms, including Tudor Investment Corp ET AL's 868.1% boost in the last quarter.
• Coupang's stock was recently rated as a "strong-buy" by Nomura Securities, while analysts have set a consensus price target of $31.13 for the company.

Durable Capital Partners LP trimmed its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 19.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,009,002 shares of the company's stock after selling 5,627,285 shares during the quarter. Coupang comprises 4.5% of Durable Capital Partners LP's portfolio, making the stock its 3rd largest position. Durable Capital Partners LP owned approximately 1.27% of Coupang worth $504,587,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Davidson Kahn Capital Management LLC raised its position in shares of Coupang by 31.6% during the 1st quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock worth $2,271,000 after purchasing an additional 24,877 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Coupang by 40.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock worth $6,776,000 after purchasing an additional 87,412 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Coupang during the 1st quarter worth approximately $241,000. Deutsche Bank AG raised its position in shares of Coupang by 25.7% during the 4th quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock worth $1,997,000 after purchasing an additional 18,593 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Coupang during the 4th quarter worth approximately $1,394,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on CPNG shares. Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price on the stock. in a research report on Wednesday, August 6th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Morgan Stanley raised their target price on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Nomura Securities upgraded Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $31.14.

Coupang Price Performance

Shares of NYSE CPNG traded up $0.17 during mid-day trading on Friday, reaching $28.90. The company had a trading volume of 8,132,816 shares, compared to its average volume of 7,959,836. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock has a market cap of $52.68 billion, a PE ratio of 144.48 and a beta of 1.15. The company has a 50-day moving average price of $29.41 and a two-hundred day moving average price of $26.40. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $31.65.

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

Insider Buying and Selling

In related news, CFO Gaurav Anand sold 75,350 shares of Coupang stock in a transaction 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 transaction, the chief financial officer directly owned 2,016,940 shares in the company, valued at $56,050,762.60. The trade was a 3.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction 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 in the company, valued at $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. Insiders have sold 10,087,003 shares of company stock worth $284,933,545 in the last three months. 12.78% of the stock is currently owned by 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.