Coupang, Inc. (NYSE:CPNG) Shares Sold by MML Investors Services LLC

MML Investors Services LLC decreased its holdings in Coupang, Inc. (NYSE:CPNG) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,333 shares of the company’s stock after selling 1,302 shares during the period. MML Investors Services LLC’s holdings in Coupang were worth $1,604,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CPNG. SG Americas Securities LLC acquired a new stake in Coupang in the 2nd quarter valued at about $175,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Coupang by 0.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 373,672 shares of the company’s stock valued at $7,828,000 after acquiring an additional 1,125 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Coupang by 15.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 23,479 shares of the company’s stock valued at $492,000 after acquiring an additional 3,193 shares during the last quarter. Dakota Wealth Management purchased a new stake in shares of Coupang in the 2nd quarter valued at approximately $475,000. Finally, Catalyst Private Wealth LLC grew its stake in shares of Coupang by 57.9% in the 2nd quarter. Catalyst Private Wealth LLC now owns 36,654 shares of the company’s stock valued at $768,000 after buying an additional 13,445 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Performance

NYSE:CPNG opened at $23.52 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The stock has a market capitalization of $42.31 billion, a P/E ratio of 41.26, a PEG ratio of 215.03 and a beta of 1.07. The company has a 50 day moving average price of $24.88 and a 200 day moving average price of $23.16. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $26.91.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The firm had revenue of $7.87 billion during 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 firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. Equities research analysts forecast that Coupang, Inc. will post 0.11 EPS for the current year.

Insider Buying and Selling at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was bought at an average price of $24.01 per share, with a total value of $18,007,500.00. Following the transaction, the director now directly owns 52,038,723 shares of the company’s stock, valued at approximately $1,249,449,739.23. This represents a 1.46 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 of the company’s stock, valued at $45,940,000. This represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on CPNG shares. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Monday, October 7th. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and increased their price target for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Coupang currently 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.