Coupang, Inc. (NYSE:CPNG) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its holdings in Coupang, Inc. (NYSE:CPNG) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 161,289 shares of the company’s stock after selling 1,107 shares during the period. Exchange Traded Concepts LLC’s holdings in Coupang were worth $3,545,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CPNG. Brooklyn Investment Group bought a new position in Coupang in the third quarter worth about $28,000. Asset Dedication LLC grew its holdings in shares of Coupang by 438.1% during the third 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 raised its position in shares of Coupang by 63.1% during 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. Berbice Capital Management LLC bought a new stake in shares of Coupang in the 4th quarter worth approximately $31,000. Finally, Wolff Wiese Magana LLC boosted its position in Coupang by 330.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after purchasing an additional 1,295 shares during the period. Institutional investors own 83.72% of the company’s stock.

Insider Activity

In other Coupang news, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction dated Monday, November 11th. The shares were bought at an average cost of $24.08 per share, with a total value of $16,559,816.00. Following the completion of the purchase, the director now owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. This represents a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. 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 research note on Monday, October 7th. Citigroup reduced their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Stock Up 2.5 %

CPNG stock opened at $22.55 on Friday. The firm’s 50-day moving average is $23.19 and its two-hundred day moving average is $23.33. The company has a market capitalization of $40.57 billion, a price-to-earnings ratio of 39.56, a price-to-earnings-growth ratio of 38.88 and a beta of 1.10. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last announced its 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 firm had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm’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 earnings per share. On average, analysts forecast that Coupang, Inc. will post 0.14 earnings per share for the current fiscal year.

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.