Coupang, Inc. $CPNG Shares Sold by Maverick Capital Ltd.

Key Points

• Maverick Capital Ltd. has reduced its holdings in Coupang, Inc. by 46.7%, selling nearly 1.9 million shares and maintaining a remaining stake valued at approximately $47.8 million.
• Institutional investors own 83.72% of Coupang's stock, with notable changes this quarter including new stakes purchased by SVB Wealth LLC and Bank Julius Baer & Co. Ltd Zurich.
• Analyst ratings have fluctuated, with Nomura recently upgrading Coupang to a "strong-buy" while Wall Street Zen downgraded it to a "hold," resulting in a consensus rating of "Moderate Buy."

Maverick Capital Ltd. reduced its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 46.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,179,195 shares of the company's stock after selling 1,911,998 shares during the period. Maverick Capital Ltd. owned about 0.12% of Coupang worth $47,790,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CPNG. Tudor Investment Corp ET AL increased its stake in Coupang by 868.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 86,032 shares of the company's stock worth $1,891,000 after buying an additional 97,232 shares during the period. The Manufacturers Life Insurance Company increased its stake in Coupang by 2.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 68,205 shares of the company's stock worth $1,499,000 after buying an additional 1,438 shares during the period. Lido Advisors LLC purchased a new stake in Coupang during the 4th quarter worth approximately $735,000. AQR Capital Management LLC increased its stake in Coupang by 21.7% during the 4th quarter. AQR Capital Management LLC now owns 301,496 shares of the company's stock worth $6,627,000 after buying an additional 53,728 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its stake in Coupang by 622.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,500 shares of the company's stock worth $3,176,000 after buying an additional 124,494 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CPNG shares. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a report on Wednesday, August 6th. Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Morgan Stanley boosted their price target on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. 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 report on Wednesday, August 6th. Finally, Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.14.

Coupang Stock Up 0.6%

Shares of Coupang stock traded up $0.17 during trading hours on Friday, hitting $28.90. The company had a trading volume of 8,132,816 shares, compared to its average volume of 7,959,836. The company's 50-day moving average is $29.41 and its two-hundred day moving average is $26.40. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $31.65. 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 market cap of $52.68 billion, a P/E ratio of 144.48 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $8.34 billion. During the same quarter in the previous year, the company posted $0.07 EPS. The company's quarterly revenue was up 16.4% on a year-over-year basis. Analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.25, for a total value of $282,500,000.00. Following the completion of the transaction, the insider owned 309,542,259 shares in the company, valued at approximately $8,744,568,816.75. This represents a 3.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Pranam Kolari sold 11,653 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $29.14, for a total transaction of $339,568.42. Following the sale, the vice president owned 158,676 shares of the company's stock, valued at approximately $4,623,818.64. This 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. Corporate 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.