Foxhaven Asset Management LP Boosts Position in Coupang, Inc. (NYSE:CPNG)

Foxhaven Asset Management LP lifted its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,417,962 shares of the company's stock after acquiring an additional 833,212 shares during the quarter. Coupang accounts for about 6.7% of Foxhaven Asset Management LP's holdings, making the stock its 6th biggest position. Foxhaven Asset Management LP owned about 0.63% of Coupang worth $250,967,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wingate Wealth Advisors Inc. purchased a new position in Coupang during the fourth quarter worth $26,000. Berbice Capital Management LLC acquired a new position in Coupang in the 4th quarter valued at about $31,000. Itau Unibanco Holding S.A. lifted its holdings in Coupang by 520.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after purchasing an additional 1,640 shares in the last quarter. Allworth Financial LP lifted its holdings in Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after purchasing an additional 1,986 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after purchasing an additional 1,429 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Coupang Trading Up 1.7%

Shares of CPNG traded up $0.44 during trading hours on Tuesday, hitting $26.58. The stock had a trading volume of 25,854,807 shares, compared to its average volume of 7,761,739. Coupang, Inc. has a 12-month low of $18.16 and a 12-month high of $27.03. The firm has a market cap of $47.99 billion, a P/E ratio of 46.63, a P/E/G ratio of 52.20 and a beta of 1.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The company's fifty day simple moving average is $22.66 and its 200 day simple moving average is $23.41.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on CPNG. Barclays upped their price objective on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. 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 research note on Wednesday, February 26th. Finally, Mizuho raised Coupang to a "hold" rating in a research report on Friday, April 18th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $29.19.

Insider Buying and Selling at Coupang

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the completion of the sale, the insider now owns 319,542,259 shares in the company, valued at $8,228,213,169.25. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Pranam Kolari sold 9,347 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total transaction of $222,925.95. Following the sale, the vice president now directly owns 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 disclosure for this sale can be found here. Insiders have sold 30,259,347 shares of company stock worth $778,580,426 in the last ninety days. 13.60% of the stock is owned by insiders.

Coupang Company 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.