William Blair Investment Management LLC Purchases New Shares in Coupang, Inc. $CPNG

Key Points

• William Blair Investment Management LLC purchased over 1 million shares of Coupang, Inc., valued at approximately $30.78 million, during the second quarter, representing about 0.06% of the company's total shares.
• Coupang's quarterly earnings report showed a revenue of $8.52 billion, exceeding expectations, but it posted a lower-than-expected EPS of $0.02, missing the consensus estimate of $0.07.
• After recent trading activity, insiders have sold a total of nearly 1 million shares of Coupang stock, valued at over $31 million, indicating changes in insider ownership.

William Blair Investment Management LLC purchased a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,027,457 shares of the company's stock, valued at approximately $30,783,000. William Blair Investment Management LLC owned approximately 0.06% of Coupang at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Angeles Wealth Management LLC raised its position in Coupang by 12.7% in the second quarter. Angeles Wealth Management LLC now owns 62,076 shares of the company's stock worth $1,860,000 after acquiring an additional 7,002 shares during the period. Allianz Asset Management GmbH raised its position in Coupang by 60.2% in the second quarter. Allianz Asset Management GmbH now owns 51,675 shares of the company's stock worth $1,548,000 after acquiring an additional 19,427 shares during the period. Sagespring Wealth Partners LLC bought a new stake in Coupang in the second quarter worth about $301,000. RFG Advisory LLC raised its position in Coupang by 16.7% in the second quarter. RFG Advisory LLC now owns 34,465 shares of the company's stock worth $1,033,000 after acquiring an additional 4,939 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in Coupang by 0.5% in the second quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company's stock worth $2,051,000 after acquiring an additional 363 shares during the period. 83.72% of the stock is owned by institutional investors.

Coupang Price Performance

Shares of NYSE:CPNG opened at $31.25 on Friday. The company has a 50 day moving average of $30.78 and a 200 day moving average of $28.28. The stock has a market cap of $56.97 billion, a P/E ratio of 156.24 and a beta of 1.18. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $34.08. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $8.52 billion for the quarter, compared to analysts' expectations of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. Coupang's revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. As a group, sell-side analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity at Coupang

In related news, insider Harold Rogers sold 64,755 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the completion of the transaction, the insider owned 449,569 shares of the company's stock, valued at approximately $14,413,182.14. The trade was a 12.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pedro Franceschi sold 21,428 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total transaction of $686,767.40. The disclosure for this sale can be found here. Insiders have sold 988,983 shares of company stock valued at $31,203,966 in the last quarter. 12.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CPNG has been the topic of several research reports. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a research report on Wednesday, August 6th. Zacks Research downgraded shares of Coupang from a "hold" rating to a "strong sell" rating in a research note on Monday, October 6th. Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. Arete Research assumed coverage on shares of Coupang in a research note on Thursday, September 18th. They issued a "buy" rating and a $40.00 target price for the company. Finally, Morgan Stanley lifted their target price on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Coupang currently has a consensus rating of "Moderate Buy" and an average target price of $33.50.

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.

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