Penserra Capital Management LLC Sells 34,559 Shares of Coupang, Inc. (NYSE:CPNG)

Penserra Capital Management LLC lowered its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 569,622 shares of the company's stock after selling 34,559 shares during the quarter. Penserra Capital Management LLC's holdings in Coupang were worth $12,491,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CPNG. Price T Rowe Associates Inc. MD grew its holdings in shares of Coupang by 29.2% during 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 purchasing an additional 17,123,637 shares in the last quarter. FMR LLC lifted its position in Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company's stock valued at $651,038,000 after purchasing an additional 2,465,973 shares during the last quarter. Durable Capital Partners LP lifted its position in Coupang by 13.6% in the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock valued at $629,426,000 after purchasing an additional 3,420,133 shares during the last quarter. Dragoneer Investment Group LLC lifted its position in Coupang by 9.0% in the fourth quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock valued at $451,497,000 after purchasing an additional 1,690,826 shares during the last quarter. Finally, Dodge & Cox lifted its position in Coupang by 0.6% in the fourth quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock valued at $444,640,000 after purchasing an additional 123,900 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Finally, Barclays upped their target price on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Two investment 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $30.08.

Insider Transactions at Coupang

In related news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of Coupang stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $28.25, for a total value of $282,500,000.00. Following the completion of the sale, the insider directly owned 309,542,259 shares in the company, valued at approximately $8,744,568,816.75. This trade represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 650,000 shares of Coupang stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average price of $26.86 per share, with a total value of $17,459,000.00. Following the completion of the acquisition, the director directly owned 55,131,161 shares in the company, valued at $1,480,822,984.46. This represents a 1.19% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 40,459,697 shares of company stock valued at $1,067,780,811. 12.78% of the stock is currently owned by corporate insiders.

Coupang Stock Down 0.1%

CPNG stock traded down $0.04 during midday trading on Tuesday, hitting $29.96. The stock had a trading volume of 10,498,336 shares, compared to its average volume of 8,293,846. The firm has a market cap of $54.40 billion, a price-to-earnings ratio of 214.00 and a beta of 1.16. The business has a 50-day moving average of $27.67 and a two-hundred day moving average of $24.49. Coupang, Inc. has a 52-week low of $18.16 and a 52-week high of $30.91. 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 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 return on equity of 10.07% and a net margin of 0.82%. The firm had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $8.02 billion. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

About Coupang

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.