AlphaQuest LLC Trims Stake in Coupang, Inc. $CPNG

AlphaQuest LLC lowered its position in shares of Coupang, Inc. (NYSE:CPNG) by 66.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,070 shares of the company’s stock after selling 15,991 shares during the period. AlphaQuest LLC’s holdings in Coupang were worth $242,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Dodge & Cox lifted its position in shares of Coupang by 101.6% in the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock worth $894,413,000 after purchasing an additional 20,555,600 shares during the period. GQG Partners LLC bought a new position in Coupang in the first quarter worth approximately $168,127,000. Massachusetts Financial Services Co. MA raised its stake in Coupang by 436.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company’s stock worth $190,497,000 after buying an additional 7,067,830 shares in the last quarter. Nuveen LLC purchased a new stake in Coupang during the first quarter worth $75,775,000. Finally, Altimeter Capital Management LP boosted its position in Coupang by 24.3% during the 1st quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company’s stock valued at $163,191,000 after acquiring an additional 1,455,555 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CPNG shares. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Nomura Securities raised shares of Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a research note on Wednesday, August 6th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.50.

Coupang Stock Up 0.1%

Coupang stock opened at $31.99 on Friday. The business’s 50-day simple moving average is $31.42 and its two-hundred day simple moving average is $29.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The company has a market cap of $58.32 billion, a PE ratio of 159.96 and a beta of 1.18. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The firm had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. Equities analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Activity at Coupang

In other Coupang news, Director Benjamin Sun sold 815,797 shares of Coupang stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director directly owned 503,624 shares in the company, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Gaurav Anand sold 75,350 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the sale, the chief financial officer directly owned 2,016,940 shares in the company, valued at $56,050,762.60. This trade represents a 3.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 988,983 shares of company stock worth $31,203,966 in the last ninety days. 12.78% of the stock is owned by company 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.