Coldstream Capital Management Inc. Acquires 1,427 Shares of Coupang, Inc. (NYSE:CPNG)

Coldstream Capital Management Inc. increased its stake in shares of Coupang, Inc. (NYSE:CPNG) by 10.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,517 shares of the company’s stock after buying an additional 1,427 shares during the period. Coldstream Capital Management Inc.’s holdings in Coupang were worth $382,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in Coupang by 63.1% in the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after purchasing an additional 484 shares during the last quarter. Covestor Ltd lifted its position in shares of Coupang by 10.4% during the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock valued at $159,000 after buying an additional 612 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in shares of 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. Janus Henderson Group PLC increased its holdings in Coupang by 2.2% in the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock worth $850,000 after acquiring an additional 747 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in Coupang by 15.4% in 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 last quarter. Institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CPNG. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and increased their target price for the stock from $18.00 to $31.00 in a research report 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 for the company in a research note on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have issued 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, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the transaction, the director now directly owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. This trade represents a 1.32 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company’s stock.

Coupang Stock Performance

NYSE CPNG opened at $23.89 on Friday. The company’s 50 day simple moving average is $24.97 and its two-hundred day simple moving average is $23.15. 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 stock has a market capitalization of $42.97 billion, a PE ratio of 41.91, a P/E/G ratio of 215.03 and a beta of 1.07.

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

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.