Sciencast Management LP Has $316,000 Position in Coupang, Inc. $CPNG

Key Points

• Sciencast Management LP decreased its stake in Coupang, Inc. by 75% during the first quarter, selling 43,264 shares and leaving them with 14,419 shares valued at $316,000.
• Selling activity by insiders has been notable, with CFO Gaurav Anand selling 75,350 shares and a total of 10 million shares sold by insiders in the last 90 days.
• Coupang's stock is currently up 2.6%, with a market cap of $58.94 billion, despite missing earnings estimates for the last quarter.

Sciencast Management LP trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 75.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 14,419 shares of the company's stock after selling 43,264 shares during the period. Sciencast Management LP's holdings in Coupang were worth $316,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPNG. The Manufacturers Life Insurance Company lifted its holdings in shares of Coupang by 2.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 68,205 shares of the company's stock worth $1,499,000 after acquiring an additional 1,438 shares during the period. Comerica Bank lifted its holdings in Coupang by 4.1% during the 4th quarter. Comerica Bank now owns 16,546 shares of the company's stock valued at $364,000 after purchasing an additional 652 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Coupang during the 4th quarter valued at about $6,028,000. Cetera Investment Advisers lifted its holdings in Coupang by 2.2% during the 4th quarter. Cetera Investment Advisers now owns 77,458 shares of the company's stock valued at $1,703,000 after purchasing an additional 1,666 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings 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. 83.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CPNG shares. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a report on Wednesday, August 6th. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target for the company in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley raised their price objective on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One investment 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. According to data from MarketBeat.com, Coupang currently has a consensus rating of "Moderate Buy" and an average target price of $31.14.

Coupang Stock Performance

CPNG remained flat at $32.45 during midday trading on Friday. 11,307,947 shares of the company's stock traded hands, compared to its average volume of 11,616,974. 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 company has a market capitalization of $59.16 billion, a P/E ratio of 162.26 and a beta of 1.15. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $32.89. The firm has a fifty day moving average price of $29.62 and a 200-day moving average price of $26.66.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data 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 net margin of 1.13% and a return on equity of 7.47%. The company had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. During the same quarter in the previous year, the business posted $0.07 EPS. The company's revenue was up 16.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity at Coupang

In other news, insider Harold Rogers sold 64,755 shares of Coupang stock in a transaction that occurred 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 completion of the sale, the insider owned 449,569 shares in the company, valued at $14,413,182.14. The trade was a 12.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Sun sold 815,797 shares of Coupang stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the sale, the director owned 503,624 shares of the company's stock, valued at approximately $16,055,533.12. This represents a 61.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 988,983 shares of company stock worth $31,203,966 over the last 90 days. Insiders own 12.78% of the company's stock.

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.