Ninety One UK Ltd Boosts Stock Position in Coupang, Inc. $CPNG

Key Points

• Ninety One UK Ltd increased its stake in Coupang, Inc. by 20.8%, owning a total of approximately 3.85 million shares valued at around $115.5 million after acquiring an additional 664,540 shares in the second quarter.
• Coupang reported earnings of $0.02 per share for the latest quarter, falling short of analysts' expectations of $0.07, despite generating revenue of $8.52 billion, beating the projected $8.34 billion.
• Wall Street analysts are divided on Coupang, with ratings ranging from "buy" to "hold," as Nomura upgraded the stock to a "buy" with a target price of $35, while Deutsche Bank set a lower target of $27.

Ninety One UK Ltd boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 20.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,854,974 shares of the company's stock after acquiring an additional 664,540 shares during the quarter. Ninety One UK Ltd owned 0.21% of Coupang worth $115,495,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CPNG. Wealth Enhancement Advisory Services LLC boosted its holdings in Coupang by 12.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,531 shares of the company's stock valued at $209,000 after acquiring an additional 1,080 shares during the period. California State Teachers Retirement System boosted its holdings in Coupang by 0.5% during the 4th quarter. California State Teachers Retirement System now owns 85,489 shares of the company's stock valued at $1,879,000 after acquiring an additional 445 shares during the period. Versant Capital Management Inc boosted its holdings in Coupang by 834.2% during the 1st quarter. Versant Capital Management Inc now owns 5,979 shares of the company's stock valued at $131,000 after acquiring an additional 5,339 shares during the period. GAMMA Investing LLC boosted its holdings in Coupang by 2,448.7% during the 1st quarter. GAMMA Investing LLC now owns 55,154 shares of the company's stock valued at $1,210,000 after acquiring an additional 52,990 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Coupang by 2.8% during the 1st quarter. Rhumbline Advisers now owns 1,871,439 shares of the company's stock valued at $41,041,000 after acquiring an additional 51,230 shares during the period. Hedge funds and other institutional investors own 83.72% of the company's stock.

Coupang Trading Down 1.9%

Shares of NYSE CPNG opened at $32.21 on Wednesday. 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 $58.72 billion, a P/E ratio of 161.06 and a beta of 1.15. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08. The business has a fifty day moving average price of $30.10 and a 200 day moving average price of $27.47.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The company had revenue of $8.52 billion for the quarter, compared to analysts' expectations of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The company's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. Equities research analysts expect that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Nomura upgraded 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 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. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Arete assumed coverage on Coupang in a report on Thursday, September 18th. They issued a "buy" rating and a $40.00 target price for the company. Finally, Nomura Securities upgraded Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.11.

Insider Activity

In related news, CFO Gaurav Anand sold 75,350 shares of the company's 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Pedro Franceschi sold 21,428 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale can be found here. Insiders sold a total of 988,983 shares of company stock worth $31,203,966 over the last ninety days. 12.78% of the stock is currently owned by corporate insiders.

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.

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