AQR Capital Management LLC Increases Position in Coupang, Inc. (NYSE:CPNG)

AQR Capital Management LLC boosted its holdings in Coupang, Inc. (NYSE:CPNG) by 267.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 299,867 shares of the company’s stock after purchasing an additional 218,340 shares during the period. AQR Capital Management LLC’s holdings in Coupang were worth $6,282,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of Coupang by 308.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after purchasing an additional 1,470 shares during the last quarter. Register Financial Advisors LLC acquired a new position in Coupang in the first quarter worth about $50,000. Opal Wealth Advisors LLC bought a new stake in Coupang in the second quarter valued at about $74,000. Benjamin F. Edwards & Company Inc. raised its stake in Coupang by 360.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,118 shares of the company’s stock valued at $86,000 after buying an additional 3,224 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Coupang during the 2nd quarter worth approximately $89,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other news, Director Benjamin Sun sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the completion of the transaction, the director now directly owns 1,969,421 shares in the company, valued at approximately $46,005,674.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Benjamin Sun sold 200,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the transaction, the director now directly owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the completion of the sale, the insider now directly owns 170,356 shares of the company’s stock, valued at $3,390,084.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 601,300 shares of company stock worth $13,604,354 and have sold 411,388 shares worth $9,452,761. 13.60% of the stock is owned by company insiders.

Coupang Price Performance

Shares of CPNG opened at $24.59 on Friday. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $25.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. The stock has a fifty day moving average price of $22.82 and a 200 day moving average price of $21.71. The company has a market cap of $43.97 billion, a P/E ratio of 35.13, a PEG ratio of 181.74 and a beta of 1.11.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The company’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. On average, research analysts forecast that Coupang, Inc. will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CPNG. Morgan Stanley boosted their price target on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Coupang currently has an average rating of “Moderate Buy” and a consensus target price of $27.25.

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.