Coupang, Inc. $CPNG Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has reduced its holdings in Coupang, Inc. by 14.2%, now owning approximately 4.96 million shares worth $108.73 million.
• Several hedge funds have increased their positions in Coupang during the first quarter, with Davidson Kahn Capital Management growing its stake by 31.6% and Allspring Global Investments by 40.1%.
• Coupang reported a net margin of 1.13% and a revenue increase of 16.4% year-over-year, although it missed earnings estimates with $0.02 EPS compared to the consensus estimate of $0.07.

Jacobs Levy Equity Management Inc. trimmed its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,957,845 shares of the company's stock after selling 820,918 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.27% of Coupang worth $108,726,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in Coupang in the first quarter valued at $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Coupang in the 1st quarter valued at $30,000. Grove Bank & Trust acquired a new position in shares of Coupang in the 1st quarter valued at $33,000. Brooklyn Investment Group boosted its stake in shares of Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after acquiring an additional 506 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Coupang by 600.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock worth $55,000 after acquiring an additional 2,149 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Coupang

In related news, CFO Gaurav Anand sold 75,350 shares of Coupang stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the sale, the chief financial officer owned 2,016,940 shares in the company, valued at approximately $56,050,762.60. This trade represents a 3.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction that occurred on 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 owned 158,676 shares of the company's stock, valued at $4,623,818.64. This trade represents a 6.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,087,003 shares of company stock worth $284,933,545. Insiders own 12.78% of the company's stock.

Coupang Trading Up 2.6%

Shares of NYSE CPNG traded up $0.83 during midday trading on Tuesday, reaching $32.33. 21,917,557 shares of the stock were exchanged, compared to its average volume of 9,681,066. The company has a 50 day simple moving average of $29.44 and a 200 day simple moving average of $26.46. The stock has a market capitalization of $58.94 billion, a P/E ratio of 161.66 and a beta of 1.15. 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 twelve month low of $19.02 and a twelve month high of $32.38.

Coupang (NYSE:CPNG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). The company had revenue of $8.52 billion for 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 company's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS. As a group, equities 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.