FORA Capital LLC Acquires 9,920 Shares of Coupang, Inc. (NYSE:CPNG)

FORA Capital LLC boosted its holdings in Coupang, Inc. (NYSE:CPNG) by 31.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 41,934 shares of the company’s stock after purchasing an additional 9,920 shares during the period. FORA Capital LLC’s holdings in Coupang were worth $1,029,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CPNG. Brooklyn Investment Group bought a new position in shares of Coupang during the third quarter valued at about $28,000. Asset Dedication LLC grew its position in Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after acquiring an additional 990 shares during the last quarter. Van ECK Associates Corp increased its stake in Coupang by 63.1% in 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. GAMMA Investing LLC lifted its position in Coupang by 308.2% in the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after purchasing an additional 1,470 shares during the last quarter. Finally, Wolff Wiese Magana LLC boosted its stake in shares of Coupang by 330.4% during 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. 83.72% of the stock is owned by institutional investors.

Coupang Price Performance

CPNG stock opened at $25.47 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The firm has a 50-day moving average of $25.06 and a 200 day moving average of $23.01. The company has a market cap of $45.82 billion, a P/E ratio of 44.68, a PEG ratio of 225.02 and a beta of 1.10.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $7.76 billion. During the same quarter in the prior year, the company earned $0.05 EPS. The business’s revenue was up 27.2% compared to the same quarter last year. On average, sell-side analysts forecast that Coupang, Inc. will post 0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CPNG shares. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of 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 investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Insider Activity

In other news, CEO Bom Kim sold 15,000,000 shares of the 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 sale, the chief executive officer now directly 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 legal filing with the SEC, which is accessible through this link. Also, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $24.01 per share, with a total value of $18,007,500.00. Following the transaction, the director now owns 52,038,723 shares in the company, 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. Company insiders own 13.60% of the company’s stock.

Coupang 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.