Coupang, Inc. $CPNG Stake Lessened by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management reduced its stake in Coupang, Inc. by 1.4%, leaving it with 1,282,191 shares valued at approximately $28.12 million.
• Institutional ownership of Coupang has increased significantly, with major firms like Dodge & Cox and Massachusetts Financial Services boosting their stakes by over 100% and 436%, respectively.
• Recent analyses have shown mixed ratings for Coupang, with Nomura upgrading it to a "buy" with a target price of $35.00, while Deutsche Bank downgraded it to a "hold" with a target price of $27.00.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC decreased its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,282,191 shares of the company's stock after selling 18,320 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.07% of Coupang worth $28,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Adalta Capital Management LLC lifted its position in Coupang by 1.9% in the 1st quarter. Adalta Capital Management LLC now owns 79,729 shares of the company's stock worth $1,748,000 after buying an additional 1,468 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in Coupang in the first quarter valued at approximately $669,000. Dynamic Technology Lab Private Ltd bought a new stake in Coupang in the first quarter valued at approximately $516,000. Petrus Trust Company LTA bought a new stake in Coupang in the first quarter valued at approximately $240,000. Finally, Duquesne Family Office LLC lifted its position in Coupang by 4.5% in the first quarter. Duquesne Family Office LLC now owns 9,302,634 shares of the company's stock valued at $204,007,000 after purchasing an additional 399,985 shares during the last quarter. Institutional investors own 83.72% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CPNG. Arete Research began coverage on Coupang in a research report on Thursday. They issued a "buy" rating and a $40.00 price objective for the company. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a research report on Wednesday, August 6th. Morgan Stanley boosted their target price on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Arete started coverage on Coupang in a research note on Thursday. They set a "buy" rating and a $40.00 target price on the stock. Finally, Nomura Securities raised Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.11.

Coupang Stock Down 1.4%

Shares of NYSE CPNG traded down $0.47 during trading on Friday, reaching $32.95. The company had a trading volume of 111,558,696 shares, compared to its average volume of 12,638,589. The stock has a market cap of $60.07 billion, a PE ratio of 164.76 and a beta of 1.15. The company has a quick ratio of 0.84, a current ratio of 1.09 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 business's 50-day moving average is $29.94 and its 200 day moving average is $26.97.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The business had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.34 billion. During the same period in the previous year, the company earned $0.07 earnings per share. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, equities analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 11,653 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the transaction, the vice president owned 158,676 shares of the company's stock, valued at $4,623,818.64. This trade represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pedro Franceschi sold 21,428 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 988,983 shares of company stock valued at $31,203,966. Company 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.