Quantbot Technologies LP Sells 199,264 Shares of Coupang, Inc. $CPNG

Key Points

• Quantbot Technologies LP has reduced its stake in Coupang, Inc. by 38.3%, selling 199,264 shares, leaving it with 321,128 shares valued at approximately $7 million.
• Coupang reported earnings of $0.02 per share for the latest quarter, missing the consensus estimate of $0.07, while its revenue increased by 16.4% year-over-year to $8.52 billion.
• Institutional investors collectively own 83.72% of Coupang’s stock, with varying opinions from analysts; some have upgraded their ratings and target prices on the stock recently.

Quantbot Technologies LP trimmed its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 38.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 321,128 shares of the company's stock after selling 199,264 shares during the quarter. Quantbot Technologies LP's holdings in Coupang were worth $7,042,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Davidson Kahn Capital Management LLC raised its stake in Coupang by 31.6% during the 1st quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock valued at $2,271,000 after purchasing an additional 24,877 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Coupang by 40.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock valued at $6,776,000 after purchasing an additional 87,412 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Coupang during the 1st quarter valued at $241,000. Deutsche Bank AG raised its stake in Coupang by 25.7% during the 4th quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock valued at $1,997,000 after purchasing an additional 18,593 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Coupang during the 4th quarter valued at $1,394,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.25, for a total value of $282,500,000.00. Following the sale, the insider owned 309,542,259 shares of the company's stock, valued at approximately $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 the SEC website. Also, VP Pranam Kolari sold 11,653 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total transaction of $339,568.42. Following the completion of the sale, the vice president directly owned 158,676 shares in the company, valued at approximately $4,623,818.64. The trade was a 6.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,462,003 shares of company stock worth $295,524,795 in the last quarter. 12.78% of the stock is owned by company insiders.

Coupang Price Performance

Shares of CPNG traded up $0.5270 during trading hours on Friday, hitting $28.7470. The stock had a trading volume of 9,813,838 shares, compared to its average volume of 11,338,745. The company's fifty day moving average is $29.48 and its two-hundred day moving average is $26.14. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $31.65. The stock has a market capitalization of $52.41 billion, a price-to-earnings ratio of 143.74 and a beta of 1.16.

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 the consensus estimate of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The firm had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. During the same period in the previous year, the company posted $0.07 EPS. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CPNG. Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Nomura upgraded shares of 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. Barclays boosted their price target on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Morgan Stanley boosted their price target on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target on the stock. in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Coupang presently has a consensus rating of "Moderate Buy" and an average price target of $31.13.

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.