Coupang, Inc. $CPNG Shares Bought by Jump Financial LLC

Key Points

• Jump Financial LLC increased its stake in Coupang, Inc. by 2,381.5%, acquiring an additional 837,487 shares, bringing its total to 872,653 shares worth approximately $19.1 million.
• During the first quarter, several institutional investors, including SVB Wealth LLC and Bank Julius Baer, also made new purchases of Coupang stock, contributing to a total institutional ownership of 83.72%.
• Coupang's quarterly earnings report showed a revenue of $8.52 billion, exceeding expectations, but it missed earnings per share estimates by $0.05.

Jump Financial LLC lifted its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 2,381.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 872,653 shares of the company's stock after buying an additional 837,487 shares during the quarter. Jump Financial LLC's holdings in Coupang were worth $19,137,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CPNG. SVB Wealth LLC purchased a new stake in shares of Coupang during the 1st quarter valued at about $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Coupang during the 1st quarter valued at approximately $30,000. Grove Bank & Trust acquired a new stake in Coupang during the 1st quarter valued at approximately $33,000. Brooklyn Investment Group grew its stake in Coupang by 43.1% during the 1st 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. grew its stake in Coupang by 520.6% during the 4th 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 currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider owned 309,542,259 shares in the company, valued at $8,744,568,816.75. The trade was a 3.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Pranam Kolari sold 11,653 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $29.14, for a total value of $339,568.42. Following the transaction, the vice president owned 158,676 shares of the company's stock, valued at $4,623,818.64. This represents a 6.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,462,003 shares of company stock worth $295,524,795. 12.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Coupang Stock Performance

NYSE:CPNG traded down $0.22 during midday trading on Monday, reaching $28.53. 5,752,777 shares of the company traded hands, compared to its average volume of 11,338,745. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $31.65. The firm has a market capitalization of $52.01 billion, a price-to-earnings ratio of 142.66 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The company has a fifty day moving average price of $29.48 and a 200 day moving average price of $26.17.

Coupang (NYSE:CPNG - Get Free Report) last released 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). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, analysts expect that Coupang, Inc. will post 0.17 EPS for the current fiscal 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.