WCM Investment Management LLC Increases Holdings in Coupang, Inc. (NYSE:CPNG)

WCM Investment Management LLC grew its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,663,297 shares of the company's stock after purchasing an additional 54,786 shares during the quarter. Coupang makes up 2.9% of WCM Investment Management LLC's holdings, making the stock its 12th biggest holding. WCM Investment Management LLC owned approximately 2.75% of Coupang worth $1,110,471,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of Coupang by 0.5% during the 4th quarter. California State Teachers Retirement System now owns 85,489 shares of the company's stock worth $1,879,000 after purchasing an additional 445 shares in the last quarter. Virtus ETF Advisers LLC increased its holdings in Coupang by 1.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company's stock worth $975,000 after purchasing an additional 466 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Coupang by 8.6% in the fourth quarter. National Bank of Canada FI now owns 6,944 shares of the company's stock worth $153,000 after purchasing an additional 548 shares during the last quarter. Snowden Capital Advisors LLC lifted its holdings in shares of Coupang by 1.2% in the fourth quarter. Snowden Capital Advisors LLC now owns 49,908 shares of the company's stock valued at $1,097,000 after purchasing an additional 603 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Coupang by 23.3% during the first quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company's stock valued at $70,000 after buying an additional 606 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 9,347 shares of Coupang stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the completion of the transaction, the vice president owned 177,106 shares in the company, valued at $4,223,978.10. This trade represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin Sun sold 200,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the sale, the director owned 1,319,421 shares in the company, valued at $37,418,779.56. The trade was a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,459,697 shares of company stock valued at $1,067,780,811. 12.78% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CPNG. Mizuho raised Coupang to a "hold" rating in a research report on Friday, April 18th. Barclays increased their target price on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Coupang presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.08.

Coupang Stock Performance

NYSE CPNG traded up $0.24 during trading hours on Thursday, reaching $30.27. 6,639,547 shares of the company were exchanged, compared to its average volume of 8,262,743. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $54.96 billion, a P/E ratio of 216.21 and a beta of 1.16. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $30.91. The business's 50 day simple moving average is $27.40 and its 200-day simple moving average is $24.37.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). Coupang had a return on equity of 10.07% and a net margin of 0.82%. The company had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.02 billion. The firm's revenue was up 11.2% on a year-over-year basis. On average, equities research analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

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.