15,085 Shares in Coupang, Inc. (NYSE:CPNG) Purchased by Quest Partners LLC

Quest Partners LLC bought a new position in shares of Coupang, Inc. (NYSE:CPNG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,085 shares of the company’s stock, valued at approximately $370,000.

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

Coupang Stock Up 1.3 %

CPNG opened at $24.32 on Monday. The business’s fifty day simple moving average is $24.99 and its 200 day simple moving average is $22.95. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock has a market cap of $43.75 billion, a PE ratio of 42.67, a P/E/G ratio of 216.02 and a beta of 1.10.

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. The firm had revenue of $7.87 billion for 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 company’s revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. As a group, research analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Bom Kim sold 15,000,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 2,000,000 shares in the company, valued at $45,940,000. This represents a 88.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the purchase, the director now directly owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. This trade represents a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CPNG shares. 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 report on Monday, October 7th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and boosted their price target for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. One research 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 a consensus rating of “Moderate Buy” and an average target price of $27.56.

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.