Ethic Inc. Sells 64,667 Shares of Coupang, Inc. $CPNG

Key Points

• Ethic Inc. significantly reduced its holdings in Coupang, Inc. by 67.1% in the first quarter, now owning 31,684 shares valued at approximately $703,000.
• Despite the decrease in Ethic Inc.'s stake, other institutional investors are increasing their positions, with notable increases from Itau Unibanco and TD Waterhouse.
• Analysts have mixed views on Coupang's stock, with Nomura upgrading it to a "buy" with a target price of $35, while Deutsche Bank and Wall Street Zen have downgraded their ratings.

Ethic Inc. decreased its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 67.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,684 shares of the company's stock after selling 64,667 shares during the period. Ethic Inc.'s holdings in Coupang were worth $703,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Coupang during the first quarter valued at $30,000. Grove Bank & Trust acquired a new stake in Coupang during the first quarter valued at $33,000. Itau Unibanco Holding S.A. boosted its position in Coupang by 520.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after purchasing an additional 1,640 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in Coupang by 142.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after purchasing an additional 1,429 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Coupang by 23.3% during the first quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company's stock valued at $70,000 after purchasing an additional 606 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Insider Transactions at Coupang

In related news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $28.25, for a total transaction of $282,500,000.00. Following the transaction, the insider directly owned 309,542,259 shares in the company, valued at $8,744,568,816.75. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Benjamin Sun sold 200,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total value of $5,672,000.00. Following the completion of the sale, the director owned 1,319,421 shares in the company, valued at approximately $37,418,779.56. This represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,462,003 shares of company stock valued at $295,524,795. 12.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CPNG. 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. Barclays boosted their price target on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. 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. Finally, Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Coupang presently has a consensus rating of "Moderate Buy" and an average price target of $31.13.

Coupang Stock Performance

CPNG traded down $0.1850 on Monday, hitting $28.5650. 2,776,012 shares of the stock traded hands, compared to its average volume of 9,449,486. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $31.65. 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 firm has a market capitalization of $52.08 billion, a PE ratio of 142.88 and a beta of 1.16. The business has a fifty day moving average price of $29.48 and a two-hundred day moving average price of $26.14.

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

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.