Tremblant Capital Group Has $23.66 Million Position in Coupang, Inc. (NYSE:CPNG)

Tremblant Capital Group raised its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 44.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,076,311 shares of the company's stock after buying an additional 333,024 shares during the period. Coupang comprises 2.4% of Tremblant Capital Group's portfolio, making the stock its 19th biggest position. Tremblant Capital Group owned about 0.06% of Coupang worth $23,657,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Coupang in the fourth quarter valued at approximately $404,896,000. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 purchasing an additional 17,123,637 shares in the last quarter. Durable Capital Partners LP increased its holdings in shares of 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 purchasing an additional 3,420,133 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Coupang by 106.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company's stock valued at $127,017,000 after purchasing an additional 2,979,981 shares in the last quarter. Finally, Coronation Fund Managers Ltd. increased its holdings in shares of Coupang by 53.3% in the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company's stock valued at $162,292,000 after purchasing an additional 2,566,581 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the transaction, the director now directly owns 1,719,421 shares of the company's stock, valued at $40,286,034.03. This trade represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of Coupang stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the transaction, the insider now directly owns 319,542,259 shares in the company, valued at approximately $8,228,213,169.25. This represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,334,697 shares of company stock valued at $780,547,061 over the last three months. 13.60% of the stock is currently owned by corporate insiders.

Coupang Trading Up 0.7%

CPNG stock traded up $0.19 during midday trading on Friday, reaching $27.47. The company's stock had a trading volume of 8,709,151 shares, compared to its average volume of 7,919,714. The business's 50-day simple moving average is $23.47 and its 200-day simple moving average is $23.51. The stock has a market cap of $49.87 billion, a PE ratio of 48.19, a price-to-earnings-growth ratio of 52.20 and a beta of 1.08. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $27.73. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The firm had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.02 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. Coupang's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, sell-side analysts expect that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CPNG. Barclays raised 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. Mizuho raised shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.64.

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.