Coupang, Inc. $CPNG Shares Purchased by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC increased its stake in Coupang, Inc. by 55.3% during the first quarter, owning a total of 54,791 shares valued at approximately $1.2 million.
• Several hedge funds have also raised their positions in Coupang, with Massachusetts Financial Services Co. increasing its stake by a staggering 436.6%.
• Research analysts have given mixed ratings for Coupang, with Nomura upgrading the stock to a "strong-buy" rating while Deutsche Bank downgraded it to a "hold."

Neuberger Berman Group LLC increased its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 55.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,791 shares of the company's stock after acquiring an additional 19,504 shares during the quarter. Neuberger Berman Group LLC's holdings in Coupang were worth $1,202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of CPNG. Price T Rowe Associates Inc. MD raised its stake in shares of Coupang by 29.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock valued at $1,663,594,000 after acquiring an additional 17,123,637 shares during the period. GQG Partners LLC purchased a new stake in Coupang during the 1st quarter worth approximately $168,127,000. Massachusetts Financial Services Co. MA increased its stake in Coupang by 436.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock worth $190,497,000 after buying an additional 7,067,830 shares during the period. Nuveen LLC purchased a new stake in shares of Coupang in the 1st quarter valued at approximately $75,775,000. Finally, Durable Capital Partners LP increased its position in shares of Coupang by 13.6% in the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock valued at $629,426,000 after purchasing an additional 3,420,133 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coupang

In other Coupang 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 shares were 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 directly owned 309,542,259 shares in the company, valued at $8,744,568,816.75. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the transaction, the chief financial officer owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. This trade represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,462,003 shares of company stock valued at $295,524,795 in the last ninety days. 12.78% of the stock is owned by company insiders.

Coupang Price Performance

CPNG traded down $0.1870 during midday trading on Wednesday, reaching $28.6630. 3,644,181 shares of the company's stock were exchanged, compared to its average volume of 9,445,592. 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 $52.25 billion, a PE ratio of 143.18 and a beta of 1.16. The business's 50-day moving average price is $29.45 and its 200 day moving average price is $26.02. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $31.65.

Coupang (NYSE:CPNG - Get Free Report) last announced its earnings results 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). The business had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business's revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, equities analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

CPNG has been the topic of a number of recent analyst reports. Barclays increased their target price 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. 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. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price on the stock. in a research report on Wednesday, August 6th. Finally, Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. One investment 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.13.

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.