Ieq Capital LLC Purchases 249,364 Shares of Coupang, Inc. $CPNG

Key Points

• Ieq Capital LLC increased its holdings in Coupang, Inc. by 111.7%, acquiring an additional 249,364 shares, bringing its total to 472,622 shares valued at over $10 million.
• Insider trading activity included major shareholder Svf Investments selling 10 million shares for approximately $282.5 million, reducing their ownership by 3.13%.
• Coupang reported revenue of $8.52 billion for the last quarter, surpassing analysts' expectations, but missed earnings per share estimates, posting $0.02 EPS instead of the anticipated $0.07.

Ieq Capital LLC increased its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 111.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 472,622 shares of the company's stock after purchasing an additional 249,364 shares during the quarter. Ieq Capital LLC's holdings in Coupang were worth $10,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPNG. SVB Wealth LLC bought a new position in shares of Coupang during the first quarter valued at $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Coupang during the first quarter valued at $30,000. Grove Bank & Trust bought a new position in shares of Coupang during the first quarter valued at $33,000. Brooklyn Investment Group lifted its holdings in shares of Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock valued at $37,000 after purchasing an additional 506 shares in the last quarter. Finally, Itau Unibanco Holding S.A. lifted its holdings in shares of 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 in the last quarter. 83.72% of the stock is owned by institutional investors.

Coupang Stock Performance

CPNG traded down $0.04 during midday trading on Monday, reaching $28.59. The company had a trading volume of 7,987,153 shares, compared to its average volume of 10,374,748. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average of $29.49 and a two-hundred day moving average of $26.30. The company has a market cap of $52.11 billion, a P/E ratio of 142.94 and a beta of 1.15. 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 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 company had revenue of $8.52 billion during the quarter, compared to analysts' expectations of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. As a group, equities research analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current fiscal 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 completion of the sale, the vice president 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the stock in a transaction dated Friday, June 13th. The stock was 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 of the company's stock, valued at $8,744,568,816.75. This represents 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 worth $284,933,545 over the last quarter. 12.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CPNG shares. Morgan Stanley upped their price objective on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research report on Wednesday, August 6th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Barclays upped their price objective on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Nomura Securities upgraded Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.13.

Coupang Company 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.