Martingale Asset Management L P Buys 8,566 Shares of Coupang, Inc. (NYSE:CPNG)

Martingale Asset Management L P increased its stake in Coupang, Inc. (NYSE:CPNG) by 22.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,276 shares of the company’s stock after acquiring an additional 8,566 shares during the period. Martingale Asset Management L P’s holdings in Coupang were worth $1,136,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CPNG. Van ECK Associates Corp grew its holdings in 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 acquiring an additional 484 shares during the period. Baader Bank Aktiengesellschaft grew its holdings in Coupang by 5.7% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock worth $219,000 after acquiring an additional 567 shares during the period. Covestor Ltd grew its holdings in Coupang by 10.4% during the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock worth $159,000 after acquiring an additional 612 shares during the period. Resonant Capital Advisors LLC grew its holdings in Coupang by 6.0% during the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock worth $235,000 after acquiring an additional 635 shares during the period. Finally, National Bank of Canada FI grew its holdings in Coupang by 15.4% during the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock worth $141,000 after acquiring an additional 890 shares during the period. Institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Shares of CPNG stock opened at $25.36 on Monday. The firm has a market capitalization of $45.62 billion, a price-to-earnings ratio of 44.49, a price-to-earnings-growth ratio of 228.26 and a beta of 1.10. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91. The firm has a fifty day moving average of $25.10 and a 200-day moving average of $23.06. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion for 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 revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. On average, equities research analysts forecast that Coupang, Inc. will post 0.11 earnings per share for the current year.

Insider Activity at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were purchased at an average cost 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 $1,249,449,739.23. This represents a 1.46 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the sale, the chief executive officer now directly owns 2,000,000 shares in the company, valued at $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of analyst reports. 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 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 target for the company in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.56.

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.