Tremblant Capital Group Has $17.26 Million Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Tremblant Capital Group grew its position in shares of Coupang, Inc. (NYSE:CPNG) by 550.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 823,641 shares of the company’s stock after buying an additional 696,949 shares during the quarter. Coupang makes up about 1.9% of Tremblant Capital Group’s investment portfolio, making the stock its 23rd biggest position. Tremblant Capital Group’s holdings in Coupang were worth $17,255,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Baillie Gifford & Co. boosted 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 acquiring an additional 2,749,027 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Coupang by 31.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock valued at $1,403,015,000 after purchasing an additional 18,894,909 shares in the last quarter. WCM Investment Management LLC grew its position in Coupang by 2,250.9% in the first quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock valued at $799,242,000 after purchasing an additional 43,015,433 shares in the last quarter. Sands Capital Management LLC grew its position in Coupang by 0.7% in the fourth quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock valued at $233,793,000 after purchasing an additional 98,043 shares in the last quarter. Finally, Foxhaven Asset Management LP grew its position in Coupang by 8.0% in the fourth quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock valued at $198,690,000 after purchasing an additional 904,065 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction dated Friday, August 2nd. The shares were 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 owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Coupang news, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the sale, the insider now owns 170,356 shares in the company, valued at approximately $3,390,084.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 150,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $22.64 per share, with a total value of $3,396,000.00. Following the purchase, the director now directly owns 49,874,924 shares in the company, valued at $1,129,168,279.36. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 601,300 shares of company stock valued at $13,604,354 and sold 410,432 shares valued at $9,429,597. 13.60% of the stock is currently owned by insiders.

Coupang Stock Performance

Shares of CPNG opened at $24.79 on Tuesday. The company has a market cap of $44.32 billion, a PE ratio of 35.41, a price-to-earnings-growth ratio of 171.76 and a beta of 1.10. 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 firm has a 50-day moving average of $22.08 and a 200-day moving average of $21.38. Coupang, Inc. has a one year low of $13.51 and a one year high of $24.84.

Coupang (NYSE:CPNG) last announced its 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 the consensus estimate of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. Coupang’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. As a group, equities analysts forecast that Coupang, Inc. will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and lifted their price objective for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Coupang has a consensus 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.