Rockefeller Capital Management L.P. Cuts Holdings in Coupang, Inc. (NYSE:CPNG)

Rockefeller Capital Management L.P. decreased its holdings in Coupang, Inc. (NYSE:CPNG) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,298 shares of the company’s stock after selling 978 shares during the period. Rockefeller Capital Management L.P.’s holdings in Coupang were worth $768,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CPNG. Brooklyn Investment Group bought a new position in Coupang in the third quarter valued at about $28,000. Asset Dedication LLC increased its position in shares of Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after purchasing an additional 990 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares during the period. Wolff Wiese Magana LLC boosted its holdings in shares of Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after buying an additional 1,295 shares during the last quarter. Finally, Signaturefd LLC grew its position in Coupang by 438.9% during the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after buying an additional 1,931 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 1.9 %

Shares of CPNG opened at $23.44 on Tuesday. The firm has a market cap of $42.16 billion, a P/E ratio of 41.11, a price-to-earnings-growth ratio of 215.12 and a beta of 1.07. 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 1 year low of $13.51 and a 1 year high of $26.91. The company has a 50 day simple moving average of $25.02 and a two-hundred day simple moving average of $23.10.

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

Insider Buying and Selling at Coupang

In other news, CEO Bom Kim sold 15,000,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $22.97, for a total value 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 $45,940,000. This trade represents a 88.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were bought at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the transaction, the director now owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. The trade was a 1.32 % increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

About Coupang

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.