Coupang, Inc. $CPNG Stock Position Lowered by Sands Capital Ventures LLC

Key Points

• Sands Capital Ventures LLC reduced its stake in Coupang by 8.8%, owning 843,476 shares worth approximately $18.5 million after selling 81,236 shares in Q1.
• Institutional investors hold 83.72% of Coupang's stock, with other firms like Price T Rowe Associates and Massachusetts Financial Services increasing their holdings significantly.
• Coupang reported Q2 earnings with a net margin of 1.13% and revenue of $8.52 billion, missing EPS estimates while achieving a 16.4% year-over-year revenue growth.

Sands Capital Ventures LLC reduced its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 8.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 843,476 shares of the company's stock after selling 81,236 shares during the quarter. Coupang accounts for about 4.5% of Sands Capital Ventures LLC's investment portfolio, making the stock its 6th largest holding. Sands Capital Ventures LLC's holdings in Coupang were worth $18,497,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Coupang during the first quarter worth about $30,000. Grove Bank & Trust acquired a new stake in shares of Coupang in the first quarter valued at approximately $33,000. Brooklyn Investment Group lifted its position in shares of Coupang by 43.1% in 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 during the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of Coupang by 520.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after purchasing an additional 1,640 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Coupang by 142.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after purchasing an additional 1,429 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the completion of the sale, the director owned 1,319,421 shares of the company's stock, valued at approximately $37,418,779.56. This trade represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gaurav Anand sold 75,350 shares of Coupang stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.79, for a total value of $2,093,976.50. Following the sale, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. This represents a 3.60% 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 over the last three months. Corporate insiders own 12.78% of the company's stock.

Coupang Stock Performance

Shares of Coupang stock traded down $0.22 during trading hours on Monday, reaching $28.53. The company had a trading volume of 3,920,024 shares, compared to its average volume of 9,451,604. Coupang, Inc. has a one year low of $19.02 and a one year high of $31.65. The business has a fifty day simple moving average of $29.48 and a 200 day simple moving average of $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. The firm has a market cap of $52.01 billion, a PE ratio of 142.66 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last posted 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 company 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 business earned $0.07 earnings per share. Coupang's revenue was up 16.4% on a year-over-year basis. On average, analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CPNG. Barclays lifted their price objective on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. 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 report on Wednesday, August 6th. Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research report on Wednesday, August 6th. Finally, Morgan Stanley boosted their price objective on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.

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.