Maverick Capital Ltd. Reduces Holdings in Coupang, Inc. (NYSE:CPNG)

Maverick Capital Ltd. lessened its holdings in Coupang, Inc. (NYSE:CPNG) by 65.9% in the third quarter, Holdings Channel reports. The firm owned 9,974,672 shares of the company’s stock after selling 19,278,344 shares during the period. Coupang accounts for 4.8% of Maverick Capital Ltd.’s investment portfolio, making the stock its 4th largest holding. Maverick Capital Ltd.’s holdings in Coupang were worth $244,878,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CPNG. Baillie Gifford & Co. lifted its stake in Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock valued at $3,589,783,000 after purchasing an additional 2,749,027 shares during the last quarter. FMR LLC lifted its position in shares of Coupang by 32.0% during the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after buying an additional 6,584,910 shares during the last quarter. Dorsal Capital Management LP grew its stake in shares of Coupang by 26.3% during the 2nd quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock worth $125,700,000 after acquiring an additional 1,250,000 shares during the period. Coronation Fund Managers Ltd. increased its holdings in Coupang by 139.1% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after acquiring an additional 2,802,325 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Coupang by 55.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock valued at $94,799,000 after acquiring an additional 1,615,448 shares during the period. Institutional investors own 83.72% of the company’s stock.

Insider Activity

In other news, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction on Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. The trade was a 88.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of Coupang stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the purchase, the director now owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. The trade was a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company’s stock.

Coupang Stock Down 0.4 %

Shares of NYSE:CPNG opened at $25.38 on Friday. The firm has a fifty day moving average price of $25.10 and a two-hundred day moving average price of $23.05. The company has a market cap of $45.65 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 229.25 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter last year, the business posted $0.05 earnings per share. The firm’s revenue was up 27.2% compared to the same quarter last year. Analysts anticipate that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and increased their target price for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $27.56.

Coupang Profile

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.