Coupang, Inc. (NYSE:CPNG) Stake Reduced by Highland Capital Management LLC

Highland Capital Management LLC trimmed its stake in Coupang, Inc. (NYSE:CPNG) by 3.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 49,693 shares of the company’s stock after selling 1,919 shares during the quarter. Highland Capital Management LLC’s holdings in Coupang were worth $1,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Asset Dedication LLC lifted its position in Coupang by 438.1% in 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. Wolff Wiese Magana LLC increased its stake 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 valued at $41,000 after purchasing an additional 1,295 shares during the period. GAMMA Investing LLC raised its holdings in shares of Coupang by 308.2% during the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after buying an additional 1,470 shares during the last quarter. Signaturefd LLC boosted its position in shares of Coupang by 438.9% during the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after buying an additional 1,931 shares during the period. Finally, Register Financial Advisors LLC bought a new position in Coupang in the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Up 0.2 %

CPNG stock opened at $25.67 on Friday. 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 market cap of $45.90 billion, a PE ratio of 36.67, a P/E/G ratio of 282.07 and a beta of 1.11. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $26.28. The firm has a 50 day simple moving average of $24.10 and a 200 day simple moving average of $22.55.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share 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 analyst estimates of $7.39 billion. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same period last year, the company posted $0.08 EPS. Equities research analysts forecast that Coupang, Inc. will post 0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Coupang news, insider Pranam Kolari sold 10,432 shares of the company’s 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 directly owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coupang news, Director Greenoaks Capital Partners Llc purchased 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $22.64 per share, with a total value of $3,396,000.00. Following the completion of the transaction, the director now owns 49,874,924 shares of the company’s stock, valued at approximately $1,129,168,279.36. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the sale, the insider now owns 170,356 shares of the company’s stock, valued at $3,390,084.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 601,300 shares of company stock valued at $13,604,354 and have sold 411,388 shares valued at $9,452,761. 13.60% of the stock is currently owned by company insiders.

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.