NewEdge Advisors LLC Has $3.41 Million Stock Holdings in Coupang, Inc. $CPNG

Key Points

• NewEdge Advisors LLC reduced its stake in Coupang, Inc. by 5.9%, selling 9,739 shares in the first quarter, resulting in holdings valued at approximately $3.41 million.
• Coupang reported earnings of $0.02 per share for the most recent quarter, falling short of expectations, while revenue grew by 16.4% year-over-year to $8.52 billion.
• Multiple analysts have adjusted their ratings for Coupang, with one upgrade to a strong-buy and others shifting to a hold stance, reflecting a varied outlook on the stock's performance.

NewEdge Advisors LLC lowered its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 5.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 155,513 shares of the company's stock after selling 9,739 shares during the period. NewEdge Advisors LLC's holdings in Coupang were worth $3,410,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox increased its holdings in Coupang by 101.6% in the first quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock worth $894,413,000 after buying an additional 20,555,600 shares during the last quarter. Duquesne Family Office LLC increased its holdings in Coupang by 4.5% in the first quarter. Duquesne Family Office LLC now owns 9,302,634 shares of the company's stock worth $204,007,000 after buying an additional 399,985 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Coupang by 436.6% in the first 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 last quarter. GQG Partners LLC acquired a new position in Coupang in the first quarter worth approximately $168,127,000. Finally, Coronation Fund Managers Ltd. increased its holdings in Coupang by 2.4% in the first quarter. Coronation Fund Managers Ltd. now owns 7,559,777 shares of the company's stock worth $165,786,000 after buying an additional 176,166 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Insider Activity

In other Coupang news, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction on Monday, August 11th. The stock was 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 directly owned 2,016,940 shares in the company, valued at $56,050,762.60. This represents a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 988,983 shares of company stock valued at $31,203,966. 12.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Coupang Stock Performance

CPNG stock traded up $0.75 during midday trading on Monday, hitting $33.16. The stock had a trading volume of 3,451,837 shares, compared to its average volume of 9,768,615. The firm has a market capitalization of $60.45 billion, a price-to-earnings ratio of 165.90 and a beta of 1.15. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $33.24. The stock has a 50-day simple moving average of $29.62 and a 200 day simple moving average of $26.68. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

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 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 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 company earned $0.07 earnings per share. The business's revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Coupang, Inc. will post 0.17 earnings per share 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.