Fmr LLC Raises Position in Coupang, Inc. (NYSE:CPNG)

Fmr LLC raised its stake in shares of Coupang, Inc. (NYSE:CPNG) by 32.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,153,608 shares of the company’s stock after purchasing an additional 6,584,910 shares during the quarter. Fmr LLC owned 1.51% of Coupang worth $666,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Coronation Fund Managers Ltd. lifted its stake in Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after purchasing an additional 2,802,325 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Coupang by 1.6% in the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after purchasing an additional 2,749,027 shares during the period. Envestnet Asset Management Inc. boosted its position in Coupang by 2,570.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock valued at $42,931,000 after acquiring an additional 1,972,476 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Coupang by 55.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock valued at $94,799,000 after purchasing an additional 1,615,448 shares in the last quarter. Finally, Dorsal Capital Management LP grew its position in shares of Coupang by 26.3% in the 2nd quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock worth $125,700,000 after buying an additional 1,250,000 shares during the period. 83.72% of the stock is owned by institutional investors.

Coupang Stock Up 1.0 %

CPNG opened at $25.47 on Friday. The stock has a market cap of $45.82 billion, a price-to-earnings ratio of 44.68, a price-to-earnings-growth ratio of 225.02 and a beta of 1.10. 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’s fifty day moving average is $25.06 and its 200 day moving average is $23.01. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $26.91.

Coupang (NYSE:CPNG) last announced 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. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same period in the previous year, the business earned $0.05 earnings per share. The business’s revenue was up 27.2% on a year-over-year basis. On average, sell-side analysts forecast that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of Coupang stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the acquisition, the director now owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. The trade was a 1.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $344,550,000.00. Following the transaction, the chief executive officer now directly owns 2,000,000 shares of the company’s stock, valued at $45,940,000. This trade represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CPNG. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Monday, October 7th. CLSA raised Coupang from a “hold” rating to an “outperform” rating and increased their target price for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.