Rubicon Global Capital Ltd Decreases Stake in Coupang, Inc. $CPNG

Key Points

• Rubicon Global Capital Ltd has reduced its stake in Coupang, Inc. by 8.3%, now holding approximately 998,390 shares, which constitutes about 4.7% of its investment portfolio.
• Several institutional investors have increased or initiated positions in Coupang, with hedge funds collectively owning 83.72% of the company's stock.
• Wall Street analysts have mixed opinions on Coupang's stock, with an average rating of "Moderate Buy" and a target price of $33.11, following recent earnings that missed expectations.

Rubicon Global Capital Ltd decreased its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 998,390 shares of the company's stock after selling 90,000 shares during the period. Coupang makes up approximately 4.7% of Rubicon Global Capital Ltd's investment portfolio, making the stock its 3rd biggest position. Rubicon Global Capital Ltd owned 0.05% of Coupang worth $29,912,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CPNG. SVB Wealth LLC purchased a new position in shares of Coupang during the first quarter valued at about $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Coupang in the first quarter worth about $30,000. Albion Financial Group UT purchased a new position in Coupang in the second quarter worth about $30,000. Grove Bank & Trust purchased a new position in Coupang in the first quarter worth about $33,000. Finally, Brooklyn Investment Group grew its position in Coupang by 43.1% in the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after acquiring an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Arete assumed coverage on Coupang in a research report on Thursday, September 18th. They issued a "buy" rating and a $40.00 price target for the company. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Arete Research began coverage on shares of Coupang in a research note on Thursday, September 18th. They set a "buy" rating and a $40.00 price target for the company. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a research note on Wednesday, August 6th. Finally, Morgan Stanley boosted their price objective on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.11.

Coupang Price Performance

NYSE CPNG opened at $32.23 on Monday. The firm's fifty day simple moving average is $30.04 and its two-hundred day simple moving average is $27.37. 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, Inc. has a 12-month low of $19.02 and a 12-month high of $34.08. The firm has a market capitalization of $58.76 billion, a P/E ratio of 161.17 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) 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 analysts' expectations of $8.34 billion. During the same period in the prior year, the firm posted $0.07 earnings per share. Coupang's revenue for the quarter was up 16.4% compared to the same quarter last year. Analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 11,653 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $29.14, for a total transaction of $339,568.42. Following the sale, the vice president directly owned 158,676 shares of the company's stock, valued at $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Harold Rogers sold 64,755 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the sale, the insider directly owned 449,569 shares in the company, valued at $14,413,182.14. This trade represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 988,983 shares of company stock valued at $31,203,966. 12.78% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.