Coupang, Inc. $CPNG is WCM Investment Management LLC’s 9th Largest Position

WCM Investment Management LLC cut its stake in shares of Coupang, Inc. (NYSE:CPNG) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,017,591 shares of the company’s stock after selling 150,865 shares during the quarter. Coupang comprises approximately 3.3% of WCM Investment Management LLC’s investment portfolio, making the stock its 9th biggest holding. WCM Investment Management LLC owned 2.69% of Coupang worth $1,609,248,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in Coupang during the 3rd quarter worth about $32,000. Hilltop National Bank acquired a new position in shares of Coupang in the third quarter valued at about $34,000. Root Financial Partners LLC acquired a new stake in shares of Coupang during the third quarter worth about $40,000. Loomis Sayles & Co. L P purchased a new stake in Coupang in the second quarter valued at approximately $45,000. Finally, Hollencrest Capital Management increased its holdings in Coupang by 3,246.0% in the 2nd quarter. Hollencrest Capital Management now owns 1,673 shares of the company’s stock worth $50,000 after buying an additional 1,623 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Price Performance

NYSE:CPNG opened at $20.02 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 0.13. Coupang, Inc. has a 52 week low of $18.55 and a 52 week high of $34.08. The stock’s 50-day moving average price is $23.44 and its 200-day moving average price is $27.90. The stock has a market capitalization of $36.56 billion, a PE ratio of 95.32 and a beta of 1.20.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.13 billion. Coupang had a return on equity of 6.95% and a net margin of 1.16%.Coupang’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. As a group, equities analysts expect that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, January 16th. Bank of America lifted their price objective on Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Barclays upped their target price on Coupang from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Coupang in a research report on Monday, January 5th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Coupang has an average rating of “Moderate Buy” and an average target price of $32.57.

Insider Activity at Coupang

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

Coupang 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.