Ceera Investments LLC Trims Stake in Coupang, Inc. (NYSE:CPNG)

Ceera Investments LLC reduced its stake in Coupang, Inc. (NYSE:CPNG) by 2.2% during the third quarter, HoldingsChannel.com reports. The firm owned 164,495 shares of the company’s stock after selling 3,658 shares during the quarter. Coupang makes up about 1.5% of Ceera Investments LLC’s portfolio, making the stock its 24th largest holding. Ceera Investments LLC’s holdings in Coupang were worth $4,038,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CPNG. Bleakley Financial Group LLC boosted its position in shares of Coupang by 17.9% in the 1st quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock worth $318,000 after purchasing an additional 2,710 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Coupang by 5.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,237,250 shares of the company’s stock valued at $39,801,000 after acquiring an additional 110,700 shares in the last quarter. Acadian Asset Management LLC lifted its position in Coupang by 438.7% in the 1st quarter. Acadian Asset Management LLC now owns 5,581 shares of the company’s stock valued at $99,000 after acquiring an additional 4,545 shares in the last quarter. Seven Eight Capital LP bought a new position in Coupang in the 1st quarter valued at approximately $6,044,000. Finally, Natixis bought a new position in shares of Coupang during the 1st quarter valued at $3,894,000. 83.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Bom Kim sold 15,000,000 shares of the 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 completion of the transaction, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greenoaks Capital Partners Llc acquired 750,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $24.01 per share, with a total value of $18,007,500.00. Following the purchase, the director now owns 52,038,723 shares of the company’s stock, valued at $1,249,449,739.23. The trade was a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,537,700 shares of company stock worth $36,862,316 and sold 15,200,956 shares worth $349,245,164. Company insiders own 13.60% of the company’s stock.

Coupang Trading Down 3.4 %

Shares of CPNG stock opened at $24.48 on Friday. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $26.91. 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 firm has a market capitalization of $44.04 billion, a PE ratio of 42.95, a PEG ratio of 220.34 and a beta of 1.10. The stock has a fifty day simple moving average of $24.90 and a two-hundred day simple moving average of $22.90.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The firm had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. On average, analysts predict that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

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.