Explore Capital Management LLC Sells 42,350 Shares of Coupang, Inc. $CPNG

Explore Capital Management LLC reduced its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 28.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,000 shares of the company’s stock after selling 42,350 shares during the period. Coupang comprises approximately 2.1% of Explore Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Explore Capital Management LLC’s holdings in Coupang were worth $2,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. California State Teachers Retirement System grew its position in Coupang by 0.5% during the third quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock valued at $2,533,000 after acquiring an additional 361 shares during the last quarter. Level Four Advisory Services LLC grew its holdings in shares of Coupang by 2.2% in the third quarter. Level Four Advisory Services LLC now owns 20,916 shares of the company’s stock worth $673,000 after purchasing an additional 441 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Coupang by 19.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock worth $86,000 after purchasing an additional 597 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Coupang by 6.6% in the third 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 during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Coupang by 9.5% in the fourth quarter. Assetmark Inc. now owns 7,150 shares of the company’s stock worth $169,000 after purchasing an additional 620 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Neil Mehta purchased 2,332,863 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $18.40 per share, for a total transaction of $42,924,679.20. Following the completion of the acquisition, the director directly owned 55,310,977 shares in the company, valued at approximately $1,017,721,976.80. The trade was a 4.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 7,350,104 shares of company stock valued at $136,566,051 in the last quarter. Insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CPNG. Sanford C. Bernstein restated an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Morgan Stanley cut their target price on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. UBS Group set a $25.00 target price on shares of Coupang in a report on Thursday, February 19th. Mizuho cut their target price on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Finally, Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.92.

Coupang Stock Performance

NYSE:CPNG opened at $16.53 on Friday. The stock has a market cap of $29.66 billion, a P/E ratio of -183.59 and a beta of 1.12. The firm’s fifty day simple moving average is $18.33 and its 200 day simple moving average is $20.59. Coupang, Inc. has a twelve month low of $15.03 and a twelve month high of $34.08. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. As a group, research analysts predict that Coupang, Inc. will post -0.17 EPS for the current year.

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.