Whale Rock Capital Management LLC Sells 948,770 Shares of Coupang, Inc. (NYSE:CPNG)

Whale Rock Capital Management LLC lowered its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,971,033 shares of the company's stock after selling 948,770 shares during the quarter. Coupang accounts for 1.8% of Whale Rock Capital Management LLC's holdings, making the stock its 22nd biggest position. Whale Rock Capital Management LLC owned approximately 0.39% of Coupang worth $153,223,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CPNG. Norges Bank acquired a new position in Coupang during the 4th quarter worth approximately $404,896,000. Price T Rowe Associates Inc. MD boosted its position in Coupang by 29.2% during 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 acquiring an additional 17,123,637 shares during the last quarter. Durable Capital Partners LP boosted its position in Coupang by 13.6% during the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after acquiring an additional 3,420,133 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Coupang by 106.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company's stock worth $127,017,000 after acquiring an additional 2,979,981 shares during the last quarter. Finally, Coronation Fund Managers Ltd. boosted its holdings in shares of Coupang by 53.3% in the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company's stock valued at $162,292,000 after buying an additional 2,566,581 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Coupang Stock Down 0.4%

Shares of NYSE CPNG traded down $0.10 during trading hours on Thursday, hitting $27.28. The company had a trading volume of 9,880,258 shares, compared to its average volume of 7,912,885. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $27.73. The firm's 50 day moving average is $23.38 and its 200-day moving average is $23.51. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $49.53 billion, a P/E ratio of 47.86, a price-to-earnings-growth ratio of 52.20 and a beta of 1.08.

Coupang (NYSE:CPNG - Get Free Report) last posted 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). Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.02 billion. The business's revenue was up 11.2% on a year-over-year basis. On average, analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have 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 objective for the company in a report on Wednesday, February 26th. Finally, Barclays increased their price objective on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Coupang presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.64.

Insider Activity at Coupang

In related news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total value of $772,500,000.00. Following the sale, the insider now owns 319,542,259 shares in the company, valued at approximately $8,228,213,169.25. This represents a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the sale, the vice president now owns 177,106 shares in the company, valued at approximately $4,223,978.10. This trade represents a 5.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,334,697 shares of company stock worth $780,547,061. Company insiders own 13.60% of the company's stock.

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.