Whale Rock Capital Management LLC Decreases Stock Position in Coupang, Inc. (NYSE:CPNG)

Whale Rock Capital Management LLC cut its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,971,033 shares of the company's stock after selling 948,770 shares during the quarter. Coupang makes up approximately 1.8% of Whale Rock Capital Management LLC's holdings, making the stock its 22nd biggest position. Whale Rock Capital Management LLC owned about 0.39% of Coupang worth $153,223,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CPNG. Price T Rowe Associates Inc. MD lifted its holdings in Coupang by 29.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after purchasing an additional 17,123,637 shares in the last quarter. FMR LLC lifted its holdings in Coupang by 9.1% in the 4th quarter. FMR LLC now owns 29,619,581 shares of the company's stock worth $651,038,000 after purchasing an additional 2,465,973 shares in the last quarter. Durable Capital Partners LP lifted its holdings in Coupang by 13.6% in the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after purchasing an additional 3,420,133 shares in the last quarter. Dragoneer Investment Group LLC lifted its holdings in Coupang by 9.0% in the 4th quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock worth $451,497,000 after purchasing an additional 1,690,826 shares in the last quarter. Finally, Dodge & Cox lifted its holdings in Coupang by 0.6% in the 4th quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock worth $444,640,000 after purchasing an additional 123,900 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insider Transactions at Coupang

In related news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This represents a 12.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Pranam Kolari sold 9,347 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the sale, the vice president now owns 177,106 shares in the company, valued at $4,223,978.10. The trade was a 5.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,334,697 shares of company stock valued at $780,547,061 in the last ninety days. Corporate insiders own 13.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CPNG. Mizuho raised Coupang to a "hold" rating in a report on Friday, April 18th. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target on the stock in a report on Wednesday, February 26th. Finally, Barclays boosted their price target on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $29.64.

Coupang Price Performance

Shares of CPNG traded up $0.19 during mid-day trading on Friday, hitting $27.47. 8,709,151 shares of the stock were exchanged, compared to its average volume of 7,930,622. The company 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 firm has a 50-day moving average of $23.47 and a two-hundred day moving average of $23.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $8.02 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

Coupang Profile

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.