Cerity Partners LLC Acquires New Shares in Coupang, Inc. (NYSE:CPNG)

Cerity Partners LLC bought a new position in shares of Coupang, Inc. (NYSE:CPNG) during the third quarter, HoldingsChannel.com reports. The firm bought 19,969 shares of the company’s stock, valued at approximately $490,000.

Other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. raised its position in shares of Coupang by 1.6% in the 2nd 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 period. Dorsal Capital Management LP raised its holdings in Coupang by 26.3% in the second quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock worth $125,700,000 after purchasing an additional 1,250,000 shares during the period. Coronation Fund Managers Ltd. boosted its position in shares of Coupang by 139.1% during the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after purchasing an additional 2,802,325 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of 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 buying an additional 1,615,448 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Coupang by 10.7% in the 2nd quarter. Renaissance Technologies LLC now owns 3,589,528 shares of the company’s stock valued at $75,201,000 after buying an additional 347,600 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Performance

Shares of CPNG stock opened at $23.90 on Friday. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $26.91. The company’s fifty day simple moving average is $25.02 and its 200-day simple moving average is $23.10. The firm has a market cap of $42.99 billion, a PE ratio of 41.92, a P/E/G ratio of 214.85 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

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

Insider Buying and Selling at Coupang

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

Wall Street Analyst Weigh In

Several research firms have weighed in on CPNG. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Monday, October 7th. CLSA upgraded 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 report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.