Petrus Trust Company LTA Buys New Holdings in Coupang, Inc. $CPNG

Key Points

• Petrus Trust Company LTA acquired approximately 10,962 shares of Coupang, Inc., valued at around $240,000, marking a growing interest among institutional investors in the company.
• Coupang reported a 12-month revenue increase of 16.4% year-over-year, with quarterly revenue reaching $8.52 billion, despite missing EPS estimates by $0.05 in its latest earnings report.
• Several brokerages have recently upgraded their ratings on Coupang, with Nomura Securities giving it a "strong-buy" rating and Morgan Stanley increasing its target price to $35.00.

Petrus Trust Company LTA bought a new position in Coupang, Inc. (NYSE:CPNG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,962 shares of the company's stock, valued at approximately $240,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dodge & Cox raised its holdings in shares of Coupang by 101.6% during the first quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock worth $894,413,000 after acquiring an additional 20,555,600 shares in the last quarter. GQG Partners LLC bought a new position in Coupang during the first quarter valued at about $168,127,000. Massachusetts Financial Services Co. MA raised its holdings in Coupang by 436.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock valued at $190,497,000 after buying an additional 7,067,830 shares in the last quarter. Nuveen LLC bought a new position in Coupang during the first quarter valued at about $75,775,000. Finally, Assenagon Asset Management S.A. raised its holdings in Coupang by 204.7% during the first quarter. Assenagon Asset Management S.A. now owns 3,352,002 shares of the company's stock valued at $73,509,000 after buying an additional 2,251,819 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Insider Activity

In other news, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Harold Rogers sold 64,755 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the transaction, the insider owned 449,569 shares of the company's stock, valued at approximately $14,413,182.14. This represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is currently owned by insiders.

Coupang Price Performance

NYSE CPNG traded up $0.75 during trading hours on Monday, reaching $33.16. 3,451,837 shares of the company's stock were exchanged, compared to its average volume of 9,768,615. The stock has a market cap of $60.45 billion, a PE ratio of 165.90 and a beta of 1.15. Coupang, Inc. has a one year low of $19.02 and a one year high of $33.24. The firm has a fifty day moving average of $29.62 and a 200-day moving average of $26.68. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

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

Analyst Upgrades and Downgrades

CPNG has been the topic of several recent research reports. Nomura Securities upgraded Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft lowered Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a research note on Wednesday, August 6th. Finally, Morgan Stanley lifted their price objective on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Coupang has an average rating of "Moderate Buy" and an average price target of $31.14.

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.