Pacific Capital Partners Ltd Purchases New Holdings in Coupang, Inc. (NYSE:CPNG)

Key Points

• Pacific Capital Partners Ltd acquired approximately 99,665 shares of Coupang, Inc., worth around $2.186 million, making Coupang the firm's 23rd largest position.
• Coupang reported earnings of $0.06 per share for the last quarter, missing estimates, with revenue of $7.91 billion, lower than the expected $8.02 billion.
• Insider trading activity included CFO Gaurav Anand selling 175,000 shares for $4.92 million, while Greenoaks Capital Partners acquired 750,000 shares, indicating mixed signals on the stock's direction.

Pacific Capital Partners Ltd purchased a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 99,665 shares of the company's stock, valued at approximately $2,186,000. Coupang comprises 1.4% of Pacific Capital Partners Ltd's holdings, making the stock its 23rd largest position.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Coupang by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,366,214 shares of the company's stock valued at $117,949,000 after purchasing an additional 54,364 shares during the last quarter. Level Four Advisory Services LLC bought a new stake in shares of Coupang during the fourth quarter worth $264,000. Clearbridge Investments LLC increased its holdings in shares of Coupang by 75.9% during the fourth quarter. Clearbridge Investments LLC now owns 14,862 shares of the company's stock worth $327,000 after buying an additional 6,414 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Coupang by 6.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 41,387 shares of the company's stock valued at $910,000 after acquiring an additional 2,336 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Coupang by 116.1% in the 4th quarter. Alliancebernstein L.P. now owns 791,556 shares of the company's stock valued at $17,398,000 after acquiring an additional 425,184 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several analyst reports. Mizuho raised shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Barclays increased their price target on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.08.

Coupang Trading Down 2.3%

Shares of Coupang stock traded down $0.68 on Friday, hitting $28.75. 9,679,812 shares of the company's stock traded hands, compared to its average volume of 8,969,002. The company has a fifty day moving average of $29.36 and a two-hundred day moving average of $25.46. Coupang, Inc. has a one year low of $18.16 and a one year high of $31.65. The company has a market capitalization of $52.20 billion, a price-to-earnings ratio of 127.96 and a beta of 1.16. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 0.90.

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

Insider Activity at Coupang

In other news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the stock in a transaction dated 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 transaction, the insider owned 309,542,259 shares of the company's stock, valued at $8,744,568,816.75. This represents a 3.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gaurav Anand sold 175,000 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $28.11, for a total value of $4,919,250.00. Following the completion of the sale, the chief financial officer directly owned 2,092,290 shares of the company's stock, valued at $58,814,271.90. The trade was a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,450,350 shares of company stock valued at $1,067,557,885. 12.78% of the stock is currently owned by company insiders.

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.