Coupang, Inc. (NYSE:CPNG) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its position in Coupang, Inc. (NYSE:CPNG) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,850 shares of the company’s stock after selling 2,175 shares during the quarter. Cresset Asset Management LLC’s holdings in Coupang were worth $348,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Coupang by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock worth $1,663,594,000 after buying an additional 17,123,637 shares in the last quarter. FMR LLC boosted its holdings in Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company’s stock valued at $651,038,000 after purchasing an additional 2,465,973 shares in the last quarter. Dodge & Cox boosted its holdings in Coupang by 0.6% in the fourth quarter. Dodge & Cox now owns 20,229,320 shares of the company’s stock valued at $444,640,000 after purchasing an additional 123,900 shares in the last quarter. Norges Bank acquired a new position in Coupang in the fourth quarter valued at approximately $404,896,000. Finally, HMI Capital Management L.P. boosted its holdings in Coupang by 4.2% in the fourth quarter. HMI Capital Management L.P. now owns 11,662,498 shares of the company’s stock valued at $256,342,000 after purchasing an additional 470,000 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPNG has been the subject of a number of research analyst reports. Barclays upped their price target on Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Mizuho raised Coupang to a “hold” rating in a report on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.64.

Coupang Price Performance

Shares of NYSE CPNG opened at $27.22 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a twelve month low of $18.16 and a twelve month high of $27.73. The stock has a 50 day moving average of $23.01 and a two-hundred day moving average of $23.47. The stock has a market cap of $49.15 billion, a P/E ratio of 47.76, a P/E/G ratio of 52.20 and a beta of 1.08.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $8.02 billion. The business’s revenue was up 11.2% compared to the same quarter last year. On average, research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Transactions at Coupang

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the transaction, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This represents a 12.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total value of $772,500,000.00. Following the completion of the transaction, the insider now owns 319,542,259 shares of the company’s stock, valued at $8,228,213,169.25. The trade was a 8.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,334,697 shares of company stock worth $780,547,061 over the last 90 days. 13.60% of the stock is currently 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.