Coupang, Inc. $CPNG is PointState Capital LP's 7th Largest Position

Key Points

• PointState Capital LP reduced its stake in Coupang, Inc. by 2.5%, selling 257,562 shares, which left them holding nearly 9.85 million shares valued at about $215.9 million.
• Several institutional investors, including SVB Wealth LLC and Bank Julius Baer, have recently altered their positions in Coupang, indicating significant interest and activity in the stock.
• Wall Street analysts have mixed ratings for Coupang, with one firm upgrading it to a "strong-buy" while others have issued hold ratings; the average target price is currently around $31.14.

PointState Capital LP trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,845,936 shares of the company's stock after selling 257,562 shares during the period. Coupang makes up approximately 3.1% of PointState Capital LP's investment portfolio, making the stock its 7th largest holding. PointState Capital LP owned 0.55% of Coupang worth $215,921,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. SVB Wealth LLC acquired a new position in shares of Coupang during the first quarter valued at $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Coupang during the first quarter valued at about $30,000. Grove Bank & Trust bought a new position in Coupang during the first quarter valued at about $33,000. Brooklyn Investment Group boosted its stake in Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock valued at $37,000 after buying an additional 506 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Coupang by 600.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock valued at $55,000 after buying an additional 2,149 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CPNG. Nomura Securities raised Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Nomura raised Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research note on Wednesday, August 6th. Morgan Stanley raised their target price on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Deutsche Bank Aktiengesellschaft lowered Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.14.

Coupang Trading Up 1.4%

Shares of NYSE:CPNG traded up $0.47 during midday trading on Thursday, reaching $32.59. The company had a trading volume of 8,237,325 shares, compared to its average volume of 9,733,436. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $32.89. The firm has a market cap of $59.40 billion, a price-to-earnings ratio of 162.93 and a beta of 1.15. The company has a fifty day simple moving average of $29.53 and a two-hundred day simple moving average of $26.54.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. 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 business earned $0.07 EPS. Research analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Pranam Kolari sold 11,653 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the completion of the sale, the vice president directly owned 158,676 shares of the company's stock, valued at approximately $4,623,818.64. This represents a 6.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the sale, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at approximately $56,050,762.60. This represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,902,800 shares of company stock valued at $310,941,153 in the last 90 days. Insiders own 12.78% of the company's stock.

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.