Coupang, Inc. (NYSE:CPNG) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC reduced its stake in Coupang, Inc. (NYSE:CPNG) by 11.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,911,052 shares of the company’s stock after selling 259,095 shares during the period. WCM Investment Management LLC owned approximately 0.11% of Coupang worth $31,284,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Headinvest LLC acquired a new stake in shares of Coupang in the third quarter valued at $29,000. Eagle Bay Advisors LLC acquired a new stake in Coupang in the second quarter valued at $26,000. Altshuler Shaham Ltd acquired a new stake in Coupang in the fourth quarter valued at $36,000. Comerica Bank acquired a new stake in Coupang in the third quarter valued at $43,000. Finally, NBC Securities Inc. acquired a new stake in Coupang in the third quarter valued at $51,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Harold Rogers sold 139,080 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $18.25, for a total transaction of $2,538,210.00. Following the transaction, the insider now owns 394,192 shares of the company’s stock, valued at $7,194,004. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Coupang news, insider Harold Rogers sold 139,080 shares of Coupang stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $18.25, for a total value of $2,538,210.00. Following the sale, the insider now owns 394,192 shares of the company’s stock, valued at approximately $7,194,004. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the completion of the sale, the insider now directly owns 364,542,259 shares in the company, valued at approximately $6,929,948,343.59. The disclosure for this sale can be found here. Insiders have sold a total of 33,355,590 shares of company stock valued at $633,443,979 over the last quarter. 14.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CPNG has been the topic of a number of analyst reports. TheStreet upgraded Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and cut their price target for the company from $20.00 to $17.00 in a research note on Tuesday, January 16th. UBS Group lowered Coupang from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $26.00 to $18.50 in a report on Wednesday, December 20th. Barclays raised their price objective on Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and raised their price objective for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.92.

Coupang Stock Performance

Shares of CPNG stock traded up $2.19 during mid-day trading on Friday, hitting $21.25. 51,059,719 shares of the stock were exchanged, compared to its average volume of 11,329,114. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $21.43. The stock’s fifty day simple moving average is $17.43 and its two-hundred day simple moving average is $16.62. The stock has a market capitalization of $38.11 billion, a price-to-earnings ratio of 28.33 and a beta of 1.32.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The firm had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the company posted $0.06 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. On average, analysts forecast that Coupang, Inc. will post 0.29 EPS for the current year.

About Coupang

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.