Fund 1 Investments LLC Sells 1,574,489 Shares of Coupang, Inc. $CPNG

Fund 1 Investments LLC cut its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 94.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,777 shares of the company’s stock after selling 1,574,489 shares during the quarter. Fund 1 Investments LLC’s holdings in Coupang were worth $1,664,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CPNG. EverSource Wealth Advisors LLC raised its stake in Coupang by 72.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after purchasing an additional 1,395 shares during the period. Baird Financial Group Inc. boosted its stake in Coupang by 52.8% in the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock worth $703,000 after purchasing an additional 8,107 shares during the period. Cerity Partners LLC grew its holdings in Coupang by 48.1% during the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after buying an additional 14,703 shares in the last quarter. State Street Corp grew its holdings in Coupang by 8.4% during the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after buying an additional 1,210,801 shares in the last quarter. Finally, AXA S.A. bought a new stake in shares of Coupang during the second quarter valued at approximately $411,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CPNG. Barclays reissued an “overweight” rating and issued a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. The Goldman Sachs Group set a $31.00 price target on shares of Coupang in a report on Thursday, July 9th. CLSA began coverage on shares of Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Mizuho set a $22.00 price target on shares of Coupang in a research note on Wednesday, August 5th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.39.

Insider Transactions at Coupang

In other news, CAO Jonathan D. Lee sold 5,519 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.10, for a total value of $88,855.90. Following the sale, the chief accounting officer directly owned 181,915 shares in the company, valued at $2,928,831.50. The trade was a 2.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the sale, the insider owned 740,931 shares in the company, valued at $11,988,263.58. This represents a 20.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 12.83% of the company’s stock.

Coupang Trading Down 0.8%

CPNG stock opened at $16.56 on Thursday. The firm has a fifty day moving average price of $16.93 and a 200 day moving average price of $17.81. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87. The firm has a market cap of $29.77 billion, a PE ratio of -38.51 and a beta of 1.13.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.18. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The company had revenue of $8.86 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the business posted $0.02 earnings per share. Coupang’s quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts anticipate that Coupang, Inc. will post -0.46 earnings per share for the current fiscal year.

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.