Ninety One North America Inc. Sells 31,942 Shares of Coupang, Inc. (NYSE:CPNG)

Ninety One North America Inc. lessened its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 816,087 shares of the company's stock after selling 31,942 shares during the quarter. Ninety One North America Inc.'s holdings in Coupang were worth $17,897,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in Coupang by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after acquiring an additional 17,123,637 shares during the period. FMR LLC lifted its stake in Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company's stock worth $651,038,000 after acquiring an additional 2,465,973 shares during the period. Durable Capital Partners LP lifted its stake in Coupang by 13.6% in the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after acquiring an additional 3,420,133 shares during the period. Dragoneer Investment Group LLC lifted its stake in Coupang by 9.0% in the fourth quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock worth $451,497,000 after acquiring an additional 1,690,826 shares during the period. Finally, Dodge & Cox raised its holdings in Coupang by 0.6% in the fourth quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock worth $444,640,000 after purchasing an additional 123,900 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Activity

In other news, VP Pranam Kolari sold 9,347 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the transaction, the vice president directly owned 177,106 shares in the company, valued at $4,223,978.10. This trade represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $25.75, for a total value of $772,500,000.00. Following the transaction, the insider owned 319,542,259 shares of the company's stock, valued at $8,228,213,169.25. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,459,697 shares of company stock valued at $1,067,780,811. 12.78% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CPNG shares. Barclays increased their price objective on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Finally, Mizuho upgraded Coupang to a "hold" rating in a report on Friday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.08.

Coupang Stock Up 0.3%

Shares of NYSE:CPNG traded up $0.10 on Wednesday, hitting $30.09. 7,237,333 shares of the company traded hands, compared to its average volume of 8,304,508. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $30.91. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $27.93 and a 200-day simple moving average of $24.56. The company has a market cap of $54.63 billion, a PE ratio of 214.93 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a net margin of 0.82% and a return on equity of 10.07%. The company had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.02 billion. The business's revenue was up 11.2% compared to the same quarter last year. As a group, research analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Coupang 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.