Public Sector Pension Investment Board Grows Stake in Coupang, Inc. (NYSE:CPNG)

Key Points

• The Public Sector Pension Investment Board increased its stake in Coupang, Inc. by 6.7%, holding 813,088 shares valued at approximately $17.8 million.
• Other institutional investors, such as Price T Rowe Associates, also significantly increased their holdings in Coupang, reflecting strong interest, with hedge funds owning 83.72% of the stock.
• Coupang reported earnings of $0.02 per share for the latest quarter, missing estimates, while revenue rose by 16.4% year-over-year.

Public Sector Pension Investment Board raised its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 813,088 shares of the company's stock after acquiring an additional 50,882 shares during the quarter. Public Sector Pension Investment Board's holdings in Coupang were worth $17,831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Coupang by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock valued at $1,663,594,000 after acquiring an additional 17,123,637 shares during the last quarter. Durable Capital Partners LP boosted its stake 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 acquiring an additional 3,420,133 shares during the last quarter. Dragoneer Investment Group LLC lifted its stake in shares of Coupang by 9.0% during the 4th quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock valued at $451,497,000 after buying an additional 1,690,826 shares in the last quarter. Dodge & Cox lifted its stake in shares of Coupang by 0.6% during the 4th quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock valued at $444,640,000 after buying an additional 123,900 shares in the last quarter. Finally, HMI Capital Management L.P. lifted its stake in shares of Coupang by 4.2% during the 4th quarter. HMI Capital Management L.P. now owns 11,662,498 shares of the company's stock valued at $256,342,000 after buying an additional 470,000 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Greenoaks Capital Partners Llc bought 650,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average cost of $26.86 per share, for a total transaction of $17,459,000.00. Following the completion of the transaction, the director owned 55,131,161 shares of the company's stock, valued at approximately $1,480,822,984.46. The trade was a 1.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gaurav Anand sold 175,000 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the completion of the transaction, the chief financial officer owned 2,092,290 shares of the company's stock, valued at $58,814,271.90. This trade represents a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,386,653 shares of company stock worth $293,430,818. Corporate insiders own 12.78% of the company's stock.

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of recent research reports. Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Mizuho upgraded shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target on the stock. in a research note on Wednesday, August 6th. Barclays upped their price target on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research note on Wednesday, August 6th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.57.

Coupang Stock Performance

Coupang stock opened at $27.70 on Tuesday. The firm's 50 day simple moving average is $29.44 and its 200 day simple moving average is $25.82. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $50.28 billion, a PE ratio of 138.48 and a beta of 1.16. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $31.65.

Coupang (NYSE:CPNG - Get Free Report) last posted its 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 firm had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%. The business's revenue was up 16.4% on a year-over-year basis. During the same period last year, the company posted $0.07 EPS. As a group, analysts expect 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.

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