Coupang, Inc. $CPNG Stake Lifted by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P increased its stake in Coupang, Inc. by 277.3%, acquiring an additional 174,183 shares, bringing its total holdings to 237,001 shares valued at approximately $5.2 million.
• Analyst ratings for Coupang are mixed, with one analyst giving it a Strong Buy rating, while others have set price targets ranging from $27.00 to $36.00.
• Despite a strong revenue performance of $8.52 billion for the quarter, Coupang reported an EPS of $0.02, falling short of the expected $0.07.

Martingale Asset Management L P grew its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 277.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 237,001 shares of the company's stock after acquiring an additional 174,183 shares during the period. Martingale Asset Management L P's holdings in Coupang were worth $5,197,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CPNG. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Coupang during the 1st quarter worth approximately $30,000. Grove Bank & Trust purchased a new stake in Coupang during the 1st quarter worth $33,000. Brooklyn Investment Group boosted its position in 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 purchasing an additional 506 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in Coupang by 520.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after buying an additional 1,640 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in Coupang by 142.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after buying an additional 1,429 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Performance

NYSE CPNG traded down $0.22 on Monday, hitting $28.53. The stock had a trading volume of 5,752,777 shares, compared to its average volume of 9,468,541. Coupang, Inc. has a one year low of $19.02 and a one year high of $31.65. 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 stock has a market cap of $52.01 billion, a price-to-earnings ratio of 142.66 and a beta of 1.16. The company's 50-day moving average is $29.48 and its two-hundred day moving average is $26.14.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The firm had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. During the same quarter last year, the company posted $0.07 EPS. Coupang's revenue for the quarter was up 16.4% on a year-over-year basis. On average, analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPNG. Nomura Securities upgraded 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 target price on the stock in a research note on Wednesday, August 6th. Morgan Stanley boosted their price objective 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. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a research report on Wednesday, August 6th. Finally, Barclays boosted their price objective on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. 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 stock. Based on data from MarketBeat.com, Coupang currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

Insider Activity

In other Coupang news, Director Benjamin Sun sold 200,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total value of $5,672,000.00. Following the completion of the transaction, the director owned 1,319,421 shares in the company, valued at approximately $37,418,779.56. This represents a 13.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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 of the company's stock, valued at approximately $8,744,568,816.75. This trade represents a 3.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,462,003 shares of company stock worth $295,524,795 in the last quarter. Company 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.