Headlands Technologies LLC Takes Position in Coupang, Inc. (NYSE:CPNG)

Key Points

• Headlands Technologies LLC has acquired 94,466 shares of Coupang, Inc., worth approximately $2,072,000, as part of its investment strategy.
• Coupang's stock has been rated with a mix of upgrades and downgrades, currently holding an average rating of "Moderate Buy" with a consensus target price of $30.57.
• Recent insider transactions include a major shareholder selling 10 million shares for $282.5 million, reducing their stake by 3.13%.

Headlands Technologies LLC bought a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 94,466 shares of the company's stock, valued at approximately $2,072,000.

A number of other hedge funds have also made changes to their positions in CPNG. Franklin Resources Inc. raised its position in Coupang by 6.5% in the 4th quarter. Franklin Resources Inc. now owns 111,027 shares of the company's stock valued at $2,440,000 after purchasing an additional 6,806 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Coupang by 8.6% in the fourth quarter. National Bank of Canada FI now owns 6,944 shares of the company's stock valued at $153,000 after buying an additional 548 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Coupang by 0.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,127,750 shares of the company's stock valued at $46,768,000 after buying an additional 15,725 shares during the last quarter. Wedbush Securities Inc. acquired a new position in Coupang during the 4th quarter worth about $207,000. Finally, Cerity Partners LLC grew its holdings in Coupang by 7.7% during the 4th quarter. Cerity Partners LLC now owns 21,507 shares of the company's stock worth $512,000 after acquiring an additional 1,538 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CPNG. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a report on Wednesday. Mizuho raised Coupang to a "hold" rating in a research note on Friday, April 18th. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a report on Wednesday. Finally, Nomura Securities raised Coupang to a "strong-buy" rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.57.

Insider Buying and Selling

In related news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the firm's stock in a transaction on 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 sale, the insider owned 309,542,259 shares of the company's stock, valued at approximately $8,744,568,816.75. This trade represents a 3.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Pranam Kolari sold 11,653 shares of the 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 completion of the sale, the vice president owned 158,676 shares of the company's stock, valued at $4,623,818.64. This trade represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,462,003 shares of company stock worth $295,397,453 over the last ninety days. Insiders own 12.78% of the company's stock.

Coupang Price Performance

Coupang stock opened at $27.80 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $50.48 billion, a P/E ratio of 139.02 and a beta of 1.16. The business has a 50-day moving average of $29.46 and a 200-day moving average of $25.70. 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 quarterly earnings data 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 firm had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 EPS. On average, equities analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.