Generation Investment Management LLP Lowers Position in Coupang, Inc. $CPNG

Key Points

• Generation Investment Management LLP reduced its stake in Coupang, Inc. by 2.7%, ending the first quarter with 339,242 shares valued at approximately $7.44 million.
• Coupang reported earnings of $0.02 per share, missing analysts' estimates of $0.07, despite achieving revenue of $8.52 billion for the quarter, up 16.4% year-over-year.
• Recent insider transactions included the CFO selling 75,350 shares at an average price of $27.79, while a major shareholder sold 10 million shares for $282.5 million.

Generation Investment Management LLP lowered its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,242 shares of the company's stock after selling 9,460 shares during the quarter. Generation Investment Management LLP's holdings in Coupang were worth $7,440,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CPNG. Tudor Investment Corp ET AL grew its holdings in shares of Coupang by 868.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 86,032 shares of the company's stock worth $1,891,000 after buying an additional 97,232 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Coupang by 2.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 68,205 shares of the company's stock worth $1,499,000 after buying an additional 1,438 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Coupang by 21.7% during the fourth quarter. AQR Capital Management LLC now owns 301,496 shares of the company's stock worth $6,627,000 after buying an additional 53,728 shares in the last quarter. Comerica Bank grew its holdings in shares of Coupang by 4.1% during the fourth quarter. Comerica Bank now owns 16,546 shares of the company's stock worth $364,000 after buying an additional 652 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Coupang during the fourth quarter worth about $6,028,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

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

Coupang Stock Performance

CPNG traded up $0.17 during trading on Friday, hitting $28.90. The stock had a trading volume of 8,132,816 shares, compared to its average volume of 7,959,836. The company has a 50 day moving average price of $29.41 and a 200-day moving average price of $26.40. The firm has a market cap of $52.68 billion, a price-to-earnings ratio of 144.48 and a beta of 1.15. 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 0.84.

Coupang (NYSE:CPNG - Get Free Report) last released 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). The firm had revenue of $8.52 billion during 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 business's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 earnings per share. As a group, research analysts predict that Coupang, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 11,653 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the sale, the vice president owned 158,676 shares in the company, valued at approximately $4,623,818.64. The trade was a 6.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.25, for a total value of $282,500,000.00. Following the sale, the insider owned 309,542,259 shares in the company, valued at approximately $8,744,568,816.75. The trade was a 3.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,087,003 shares of company stock valued at $284,933,545 in the last 90 days. Corporate insiders own 12.78% of the company's stock.

About Coupang

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.