Ethic Inc. Grows Stock Holdings in Coupang, Inc. $CPNG

Key Points

• Ethic Inc. sharply increased its stake in Coupang, boosting holdings by 383.2% in the fourth quarter to 126,154 shares valued at about $2.98 million.
• Insider buying was significant: Director Neil Mehta purchased 3 million shares for $56.0 million, and insiders bought 7.35 million shares worth $136.6 million over the last quarter.
• Coupang reported mixed quarterly results, missing EPS estimates with a loss of $0.15 per share even as revenue rose 7.5% year over year to $8.50 billion; analysts currently rate the stock a consensus Hold with a $26.92 price target.

Ethic Inc. grew its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 383.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 126,154 shares of the company's stock after acquiring an additional 100,047 shares during the quarter. Ethic Inc.'s holdings in Coupang were worth $2,976,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Dodge & Cox increased its holdings in shares of Coupang by 0.7% in the 3rd quarter. Dodge & Cox now owns 46,947,720 shares of the company's stock valued at $1,511,717,000 after acquiring an additional 333,200 shares during the last quarter. Capital International Investors increased its holdings in shares of Coupang by 7.6% in the 3rd quarter. Capital International Investors now owns 34,153,094 shares of the company's stock valued at $1,099,792,000 after acquiring an additional 2,421,089 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Coupang by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company's stock valued at $697,029,000 after acquiring an additional 951,812 shares during the last quarter. Durable Capital Partners LP increased its holdings in shares of Coupang by 0.4% in the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company's stock valued at $799,629,000 after acquiring an additional 89,207 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Coupang by 21.2% during the 3rd quarter. State Street Corp now owns 18,964,373 shares of the company's stock worth $610,653,000 after buying an additional 3,322,598 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Transactions at Coupang

In other Coupang news, Director Neil Mehta acquired 3,000,000 shares of the stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $18.68 per share, with a total value of $56,040,000.00. Following the transaction, the director owned 52,978,114 shares of the company's stock, valued at approximately $989,631,169.52. This trade represents a 6.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have acquired 7,350,104 shares of company stock worth $136,566,051. Company insiders own 12.78% of the company's stock.

Coupang Price Performance

Shares of NYSE CPNG opened at $16.13 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. Coupang, Inc. has a twelve month low of $16.10 and a twelve month high of $34.08. The stock has a 50 day moving average of $19.46 and a two-hundred day moving average of $22.41. The stock has a market cap of $29.48 billion, a P/E ratio of -179.15 and a beta of 1.20.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The firm had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.48 billion. During the same quarter in the prior year, the firm posted $0.06 EPS. Coupang's quarterly revenue was up 7.5% compared to the same quarter last year. On average, research analysts forecast that Coupang, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several recent analyst reports. Nomura reduced their price objective on shares of Coupang from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, March 2nd. Citigroup downgraded shares of Coupang from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Sanford C. Bernstein restated an "underperform" rating on shares of Coupang in a research report on Monday, March 2nd. Morgan Stanley dropped their price objective on Coupang from $31.00 to $29.00 and set an "overweight" rating on the stock in a report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered Coupang from a "buy" rating to a "hold" rating and set a $23.00 price objective on the stock. in a report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $26.92.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

Want to see what other hedge funds are holding CPNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coupang, Inc. (NYSE:CPNG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.