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

Wellington Management Group LLP lowered its position in shares of Coupang, Inc. (NYSE:CPNG) by 7.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,402,159 shares of the company’s stock after selling 861,979 shares during the period. Wellington Management Group LLP’s holdings in Coupang were worth $180,686,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CPNG. California State Teachers Retirement System increased its stake in Coupang by 0.5% in the 3rd quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock worth $2,533,000 after buying an additional 361 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Coupang by 19.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock valued at $86,000 after purchasing an additional 597 shares during the period. National Bank of Canada FI lifted its holdings in Coupang by 6.6% in the 3rd quarter. National Bank of Canada FI now owns 9,801 shares of the company’s stock worth $316,000 after purchasing an additional 609 shares in the last quarter. Vise Technologies Inc. boosted its stake in Coupang by 3.0% in the 4th quarter. Vise Technologies Inc. now owns 22,302 shares of the company’s stock worth $526,000 after purchasing an additional 642 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in Coupang by 38.0% during the 4th quarter. Global Retirement Partners LLC now owns 2,677 shares of the company’s stock valued at $63,000 after buying an additional 737 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CPNG. CLSA started coverage on shares of Coupang in a report on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price on the stock. Barclays restated an “overweight” rating and set a $29.00 price objective on shares of Coupang in a research report on Tuesday, July 7th. Mizuho set a $22.00 target price on Coupang in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 target price on Coupang in a research report on Thursday, July 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.39.

Coupang Price Performance

Coupang stock opened at $16.04 on Tuesday. 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. The firm’s fifty day moving average is $16.84 and its 200 day moving average is $17.77. The company has a market cap of $28.83 billion, a price-to-earnings ratio of -37.30 and a beta of 1.13.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the company posted $0.02 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Sell-side analysts forecast that Coupang, Inc. will post -0.46 EPS for the current fiscal year.

Insider Transactions at Coupang

In related news, CAO Jonathan D. Lee sold 5,519 shares of the 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 completion of the transaction, the chief accounting officer owned 181,915 shares of the company’s stock, valued at approximately $2,928,831.50. This trade represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of Coupang stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the transaction, the insider owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. This represents a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.83% of the stock is currently owned by company insiders.

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.