Wellington Management Group LLP Sells 861,979 Shares of Coupang, Inc. $CPNG

Wellington Management Group LLP reduced its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,402,159 shares of the company’s stock after selling 861,979 shares during the period. Wellington Management Group LLP owned 0.58% of Coupang worth $180,686,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Coupang during the 4th quarter valued at approximately $498,333,000. Assenagon Asset Management S.A. boosted its holdings in Coupang by 1,394.1% in the first quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company’s stock worth $323,180,000 after acquiring an additional 15,971,942 shares in the last quarter. Tiger Global Management LLC grew its stake in shares of Coupang by 65.9% in the fourth quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock worth $619,645,000 after acquiring an additional 10,429,680 shares during the last quarter. Capital International Investors grew its stake in shares of Coupang by 20.4% in the fourth quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after acquiring an additional 6,977,942 shares during the last quarter. Finally, Dragoneer Investment Group LLC increased its holdings in shares of Coupang by 47.1% during the fourth quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock valued at $508,991,000 after acquiring an additional 6,910,865 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 2.9%

Coupang stock opened at $16.04 on Tuesday. The business has a 50-day simple moving average of $16.84 and a two-hundred day simple moving average of $17.77. The company has a market cap of $28.83 billion, a P/E ratio of -37.30 and a beta of 1.13. Coupang, Inc. has a 52-week low of $14.92 and a 52-week high of $34.08. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.18. The company had revenue of $8.86 billion for the quarter, compared to the consensus estimate of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 earnings per share. Analysts predict that Coupang, Inc. will post -0.46 EPS for the current year.

Insider Buying and Selling at Coupang

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CPNG. Citigroup lowered Coupang from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Mizuho set a $22.00 price objective on shares of Coupang in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. Barclays reaffirmed an “overweight” rating and issued a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Finally, CLSA began coverage on shares of Coupang in a report on Monday, June 15th. They set an “outperform” rating and a $24.00 price target on the stock. 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 MarketBeat, Coupang presently has an average rating of “Hold” and an average target price of $25.39.

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.