Sands Capital Management LLC Lowers Holdings in Coupang, Inc. $CPNG

Sands Capital Management LLC reduced its position in Coupang, Inc. (NYSE:CPNG) by 8.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,024,177 shares of the company’s stock after selling 975,544 shares during the quarter. Sands Capital Management LLC’s holdings in Coupang were worth $354,978,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CPNG. Atlantic Union Bankshares Corp purchased a new stake in Coupang in the 2nd quarter valued at approximately $78,000. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Coupang in the 2nd quarter valued at approximately $374,000. Prospera Financial Services Inc acquired a new stake in shares of Coupang in the 2nd quarter valued at approximately $823,000. Aviva PLC boosted its stake in shares of Coupang by 4.3% in the second quarter. Aviva PLC now owns 46,275 shares of the company’s stock valued at $1,386,000 after buying an additional 1,914 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in Coupang by 1,330.4% during the second quarter. Illinois Municipal Retirement Fund now owns 465,497 shares of the company’s stock worth $13,946,000 after acquiring an additional 432,953 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Price Performance

Coupang stock opened at $19.16 on Wednesday. The firm has a market capitalization of $34.99 billion, a PE ratio of 159.65 and a beta of 1.20. Coupang, Inc. has a 52 week low of $16.74 and a 52 week high of $34.08. The firm’s 50-day simple moving average is $19.88 and its 200 day simple moving average is $25.92. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14.

Coupang (NYSE:CPNG) last posted its earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The business had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter last year, the business posted $0.04 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts predict that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays raised their target price on Coupang from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Citigroup lowered their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Nomura dropped 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. Morgan Stanley reduced their price target on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Finally, Weiss Ratings lowered Coupang from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Coupang presently has a consensus rating of “Hold” and an average target price of $26.70.

Insider Buying and Selling at Coupang

In related news, CAO Jonathan D. Lee sold 2,679 shares of Coupang 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 in the company, valued at $2,883,907.52. The trade was a 2.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.78% 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.