Coupang, Inc. $CPNG Shares Bought by Metavasi Capital LP

Key Points

• Metavasi Capital LP increased its holdings in Coupang, Inc. by 10.3% in Q1, owning a total of 533,912 shares valued at approximately $11.71 million, making it the firm's 5th largest position.
• Multiple institutional investors, including Davidson Kahn Capital Management and Allspring Global Investments, have also raised their stakes in Coupang during the same quarter, with institutional investors now owning 83.72% of the company's stock.
• Coupang reported revenue of $8.52 billion for the latest quarter, a 16.4% increase year-over-year, although it fell short of earnings expectations with $0.02 per share.

Metavasi Capital LP raised its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 533,912 shares of the company's stock after purchasing an additional 50,000 shares during the period. Coupang accounts for 7.4% of Metavasi Capital LP's investment portfolio, making the stock its 5th largest holding. Metavasi Capital LP's holdings in Coupang were worth $11,709,000 at the end of the most recent quarter.

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

Insider Activity

In other news, CFO Gaurav Anand sold 75,350 shares of the company's stock in a transaction dated 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 directly owned 2,016,940 shares of the company's stock, valued at approximately $56,050,762.60. This represents a 3.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the firm's stock in a transaction 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 sale, the insider owned 309,542,259 shares of the company's stock, valued at $8,744,568,816.75. This trade represents a 3.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,087,003 shares of company stock valued at $284,933,545. Insiders own 12.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CPNG shares. Morgan Stanley upped their target price on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a report on Wednesday, August 6th. Finally, Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.14.

Coupang Stock Performance

Shares of NYSE:CPNG traded up $0.17 on Friday, reaching $28.90. The company's stock had a trading volume of 8,132,816 shares, compared to its average volume of 7,959,836. The stock's 50-day moving average is $29.41 and its two-hundred day moving average is $26.40. Coupang, Inc. has a 52-week low of $19.02 and a 52-week 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 stock has a market capitalization of $52.68 billion, a P/E ratio of 144.48 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last announced its 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). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The business had revenue of $8.52 billion during the quarter, compared to analysts' expectations of $8.34 billion. During the same period in the previous year, the company posted $0.07 earnings per share. Coupang's quarterly revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

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.