Fmr LLC Raises Stock Position in Coupang, Inc. (NYSE:CPNG)

Fmr LLC grew its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 32.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,153,608 shares of the company’s stock after acquiring an additional 6,584,910 shares during the quarter. Fmr LLC’s holdings in Coupang were worth $666,621,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp increased its position in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after acquiring an additional 484 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its stake in shares of Coupang by 5.7% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock worth $219,000 after purchasing an additional 567 shares during the period. Covestor Ltd raised its position in Coupang by 10.4% in the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock worth $159,000 after purchasing an additional 612 shares during the period. Resonant Capital Advisors LLC raised its position in Coupang by 6.0% in the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock worth $235,000 after purchasing an additional 635 shares during the period. Finally, National Bank of Canada FI lifted its stake in Coupang by 15.4% in the second quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock worth $141,000 after purchasing an additional 890 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Up 1.0 %

Shares of NYSE CPNG opened at $25.47 on Friday. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $26.91. The firm has a market cap of $45.82 billion, a PE ratio of 44.68, a price-to-earnings-growth ratio of 225.02 and a beta of 1.10. The business has a fifty day simple moving average of $25.06 and a two-hundred day simple moving average of $23.01. 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 released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. During the same period in the previous year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. Analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Transactions at Coupang

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CPNG. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and increased their price target for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Coupang Company 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.