Sands Capital Management LLC Decreases Stake in Coupang, Inc. $CPNG

Sands Capital Management LLC cut its position in Coupang, Inc. (NYSE:CPNG) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,024,177 shares of the company’s stock after selling 975,544 shares during the period. Sands Capital Management LLC owned 0.60% of Coupang worth $354,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of Coupang during the 3rd quarter worth $32,000. Hilltop National Bank purchased a new position in Coupang in the third quarter valued at $34,000. Fifth Third Bancorp raised its stake in Coupang by 1,250.0% in the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after buying an additional 1,000 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Coupang in the third quarter valued at $40,000. Finally, Loomis Sayles & Co. L P purchased a new stake in Coupang during the 2nd quarter worth about $45,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Up 1.8%

Coupang stock opened at $19.16 on Wednesday. The company has a market capitalization of $34.99 billion, a P/E ratio of 159.65 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 1.04. Coupang, Inc. has a fifty-two week low of $16.74 and a fifty-two week high of $34.08. The stock has a 50-day simple moving average of $19.88 and a 200-day simple moving average of $25.92.

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). Coupang had a return on equity of 4.52% and a net margin of 0.60%.The firm had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the prior year, the business earned $0.04 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities research analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Activity at Coupang

In other news, CAO Jonathan D. Lee sold 2,679 shares of Coupang stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $23.62, for a total value of $63,277.98. Following the transaction, the chief accounting officer directly owned 122,096 shares of the company’s stock, valued at $2,883,907.52. The trade was a 2.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CPNG shares. Sanford C. Bernstein reiterated an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. UBS Group set a $25.00 price target on Coupang in a report on Thursday, February 19th. Morgan Stanley dropped their price target on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Weiss Ratings cut shares of Coupang from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Finally, Nomura lowered their target price on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.70.

Coupang Company Profile

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.