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

Fund 1 Investments LLC lowered its position in Coupang, Inc. (NYSE:CPNG) by 94.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 95,777 shares of the company’s stock after selling 1,574,489 shares during the period. Fund 1 Investments LLC’s holdings in Coupang were worth $1,664,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CPNG. Vanguard Group Inc. grew its position in shares of Coupang by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock worth $697,029,000 after buying an additional 951,812 shares in the last quarter. Ethic Inc. raised its holdings in shares of Coupang by 383.2% in the fourth quarter. Ethic Inc. now owns 126,154 shares of the company’s stock valued at $2,976,000 after acquiring an additional 100,047 shares in the last quarter. Geode Capital Management LLC lifted its stake in Coupang by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock worth $574,068,000 after acquiring an additional 1,689,293 shares during the period. Handelsbanken Fonder AB lifted its stake in Coupang by 10.2% in the second quarter. Handelsbanken Fonder AB now owns 702,968 shares of the company’s stock worth $12,211,000 after acquiring an additional 64,967 shares during the period. Finally, M&T Bank Corp grew its holdings in Coupang by 22.7% during the 4th quarter. M&T Bank Corp now owns 318,971 shares of the company’s stock worth $7,525,000 after acquiring an additional 59,013 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Price Performance

CPNG opened at $16.56 on Thursday. The firm has a market capitalization of $29.77 billion, a PE ratio of -38.51 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. The business’s 50-day moving average is $16.93 and its two-hundred day moving average is $17.81. Coupang, Inc. has a 1 year low of $14.92 and a 1 year high of $34.08.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating 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 business had revenue of $8.86 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the firm posted $0.02 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Research analysts anticipate that Coupang, Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Activity at Coupang

In related news, CAO Jonathan D. Lee sold 5,519 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the completion of the transaction, the chief accounting officer 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 legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the stock in a transaction that occurred 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 sale, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CPNG shares. The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and lowered their price target for the stock from $23.00 to $21.50 in a research report on Wednesday, August 5th. Bank of America dropped their price objective on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Citigroup lowered shares of Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Finally, Barclays reissued an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a research note on Tuesday, July 7th. Six 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $25.39.

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.