Bellwether Advisors LLC Decreases Holdings in Coupang, Inc. $CPNG

Bellwether Advisors LLC lowered its position in Coupang, Inc. (NYSE:CPNG) by 53.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,854 shares of the company’s stock after selling 150,581 shares during the quarter. Bellwether Advisors LLC’s holdings in Coupang were worth $4,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Dodge & Cox grew its holdings in shares of Coupang by 14.3% during the 2nd quarter. Dodge & Cox now owns 46,614,520 shares of the company’s stock valued at $1,396,571,000 after purchasing an additional 5,829,600 shares during the last quarter. Vanguard Group Inc. boosted its position in Coupang by 343.5% during the third quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after buying an additional 22,147,432 shares during the period. Durable Capital Partners LP grew its stake in shares of Coupang by 7.5% during the second quarter. Durable Capital Partners LP now owns 24,743,982 shares of the company’s stock valued at $741,330,000 after buying an additional 1,734,980 shares during the last quarter. Norges Bank purchased a new position in shares of Coupang in the second quarter worth about $587,186,000. Finally, Holocene Advisors LP lifted its stake in shares of Coupang by 24.5% in the 2nd quarter. Holocene Advisors LP now owns 15,689,845 shares of the company’s stock valued at $470,068,000 after acquiring an additional 3,083,854 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coupang

In other news, CAO Jonathan D. Lee sold 2,679 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $23.62, for a total value of $63,277.98. Following the completion of the transaction, the chief accounting officer owned 122,096 shares in the company, valued at $2,883,907.52. This trade represents a 2.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.78% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CPNG. Zacks Research upgraded Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Sanford C. Bernstein restated an “underperform” rating on shares of Coupang in a report on Monday. Morgan Stanley decreased their target price on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday. Bank of America increased their price target on shares of Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Mizuho cut their price target on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.70.

Coupang Trading Down 3.1%

NYSE:CPNG opened at $19.21 on Wednesday. The company has a 50-day moving average price of $20.34 and a 200-day moving average price of $26.26. The stock has a market cap of $35.09 billion, a price-to-earnings ratio of 160.10 and a beta of 1.20. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14. Coupang, Inc. has a 12 month low of $16.74 and a 12 month high of $34.08.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.Coupang’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 earnings per share. Equities analysts predict that Coupang, Inc. will post 0.17 EPS for the current year.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.