Fox Run Management L.L.C. Decreases Stock Holdings in Coupang, Inc. $CPNG

Key Points

• Fox Run Management L.L.C. has reduced its position in Coupang, Inc. by 27.9%, now holding 51,839 shares, valued at approximately $1.14 million.
• Several large investors, including Price T Rowe Associates and Durable Capital Partners, have recently increased their stakes in Coupang, contributing to 83.72% of the company's stock being held by institutional investors.
• Coupang reported a net income miss with earnings of $0.02 per share, falling short of the analyst estimate of $0.07 per share, despite a 16.4% year-over-year revenue increase to $8.52 billion.

Fox Run Management L.L.C. trimmed its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 27.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,839 shares of the company's stock after selling 20,044 shares during the quarter. Fox Run Management L.L.C.'s holdings in Coupang were worth $1,137,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CPNG. Price T Rowe Associates Inc. MD increased its holdings in Coupang by 29.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after acquiring an additional 17,123,637 shares during the period. Durable Capital Partners LP boosted its holdings in Coupang by 13.6% in the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock valued at $629,426,000 after purchasing an additional 3,420,133 shares during the period. Dragoneer Investment Group LLC grew its position in shares of Coupang by 9.0% during the 4th quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock valued at $451,497,000 after purchasing an additional 1,690,826 shares in the last quarter. HMI Capital Management L.P. increased its holdings in shares of Coupang by 4.2% in the fourth quarter. HMI Capital Management L.P. now owns 11,662,498 shares of the company's stock worth $256,342,000 after purchasing an additional 470,000 shares during the period. Finally, Foxhaven Asset Management LP increased its holdings in shares of Coupang by 7.9% in the fourth quarter. Foxhaven Asset Management LP now owns 11,417,962 shares of the company's stock worth $250,967,000 after purchasing an additional 833,212 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CPNG shares. Nomura raised Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research note on Wednesday, August 6th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Barclays boosted their price objective on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a research report on Wednesday, August 6th. Finally, Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.13.

Insider Buying and Selling at Coupang

In other Coupang news, 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 $4,623,818.64. This represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 1,319,421 shares in the company, valued at $37,418,779.56. This trade represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,462,003 shares of company stock worth $295,524,795 in the last quarter. 12.78% of the stock is currently owned by company insiders.

Coupang Price Performance

NYSE:CPNG traded down $0.0350 during mid-day trading on Wednesday, reaching $28.8150. The stock had a trading volume of 7,446,342 shares, compared to its average volume of 11,543,486. The stock has a market capitalization of $52.53 billion, a P/E ratio of 144.08 and a beta of 1.16. The firm has a 50 day moving average price of $29.47 and a two-hundred day moving average price of $26.04. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. Coupang, Inc. has a one year low of $19.02 and a one year high of $31.65.

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