Ninety One UK Ltd Sells 4,098,358 Shares of Coupang, Inc. $CPNG

Key Points

• Ninety One UK Ltd cut its position in Coupang by 99.8%, selling 4,098,358 shares in Q4 and leaving the firm with just 6,167 shares worth about $145,000.
• Director Neil Mehta bought 3,000,000 shares at $18.68 each (≈$56.0M), boosting his direct holding to 52,978,114 shares and signaling insider buying even as some institutions sold.
• Coupang missed on Q4 results (EPS ($0.01) vs. $0.02 estimate; revenue $8.84B vs. $9.12B), and analysts hold a consensus "Hold" rating with an average price target of $26.70 while the stock trades near $21.60.

Ninety One UK Ltd lowered its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 99.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,167 shares of the company's stock after selling 4,098,358 shares during the quarter. Ninety One UK Ltd's holdings in Coupang were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in Coupang by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,215,142 shares of the company's stock valued at $361,128,000 after buying an additional 318,115 shares during the last quarter. TRB Advisors LP acquired a new stake in Coupang in the 3rd quarter worth $1,863,000. New York State Common Retirement Fund grew its position in Coupang by 18.5% in the 3rd quarter. New York State Common Retirement Fund now owns 728,861 shares of the company's stock worth $23,469,000 after purchasing an additional 113,950 shares during the last quarter. Rit Capital Partners PLC grew its position in Coupang by 3.5% in the 3rd quarter. Rit Capital Partners PLC now owns 2,700,750 shares of the company's stock worth $86,937,000 after purchasing an additional 91,550 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Coupang by 343.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company's stock worth $920,786,000 after purchasing an additional 22,147,432 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coupang

In other news, Director Neil Mehta purchased 3,000,000 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of $18.68 per share, with a total value of $56,040,000.00. Following the acquisition, the director directly owned 52,978,114 shares of the company's stock, valued at approximately $989,631,169.52. This trade represents a 6.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have bought 7,350,104 shares of company stock worth $136,566,051. Company insiders own 12.78% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on CPNG shares. Wall Street Zen lowered shares of Coupang from a "hold" rating to a "strong sell" rating in a research report on Saturday, March 14th. Mizuho decreased their price target on shares of Coupang from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, February 27th. Morgan Stanley decreased their price target on shares of Coupang from $31.00 to $29.00 and set an "overweight" rating on the stock in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $25.00 price target on the stock in a research report on Friday, January 16th. Finally, Weiss Ratings lowered shares of Coupang from a "hold (c)" rating to a "sell (d+)" rating in a research report on Monday, March 2nd. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Coupang has a consensus rating of "Hold" and an average price target of $26.70.

Coupang Trading Up 0.5%

Shares of CPNG stock opened at $21.60 on Friday. Coupang, Inc. has a 12-month low of $16.74 and a 12-month high of $34.08. The company has a market capitalization of $39.49 billion, a P/E ratio of 180.01 and a beta of 1.16. The firm has a 50-day moving average price of $19.03 and a 200 day moving average price of $23.69. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The firm had revenue of $8.84 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the prior year, the business earned $0.04 earnings per share. The company's revenue for the quarter was up 10.9% on a year-over-year basis. Research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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