Glenmede Trust Co. NA Has $1.62 Million Stock Position in Coupang, Inc. (NYSE:CPNG)

Glenmede Trust Co. NA lowered its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 2.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 66,158 shares of the company’s stock after selling 1,493 shares during the period. Glenmede Trust Co. NA’s holdings in Coupang were worth $1,624,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Brooklyn Investment Group acquired a new stake in Coupang during the 3rd quarter valued at approximately $28,000. Asset Dedication LLC boosted its stake in shares of Coupang by 438.1% in the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after purchasing an additional 990 shares during the last quarter. Van ECK Associates Corp raised its stake in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after buying an additional 484 shares during the last quarter. GAMMA Investing LLC raised its stake in Coupang by 308.2% during the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after buying an additional 1,470 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its holdings in Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after buying an additional 1,295 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Down 0.4 %

CPNG stock opened at $25.36 on Monday. The company’s 50 day moving average is $25.10 and its 200 day moving average is $23.06. The stock has a market cap 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. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $26.91.

Coupang (NYSE:CPNG) last issued its quarterly 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. The firm had revenue of $7.87 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share. Sell-side analysts predict that Coupang, Inc. will post 0.11 EPS 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 shares were 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 directly owns 2,000,000 shares of the company’s stock, valued at $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Greenoaks Capital Partners Llc acquired 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, for a total transaction of $18,007,500.00. Following the completion of the transaction, the director now owns 52,038,723 shares in the company, valued at approximately $1,249,449,739.23. This represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. CLSA raised Coupang from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.