Rockefeller Capital Management L.P. Sells 978 Shares of Coupang, Inc. (NYSE:CPNG)

Rockefeller Capital Management L.P. trimmed its holdings in Coupang, Inc. (NYSE:CPNG) by 3.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 31,298 shares of the company’s stock after selling 978 shares during the period. Rockefeller Capital Management L.P.’s holdings in Coupang were worth $768,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group purchased a new stake in Coupang in the third quarter worth $28,000. Asset Dedication LLC grew its holdings in shares of Coupang by 438.1% in the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after purchasing an additional 990 shares during the last quarter. Van ECK Associates Corp increased its stake in Coupang by 63.1% in the 3rd 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 period. Wolff Wiese Magana LLC lifted its holdings in Coupang by 330.4% during the 3rd 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 in the last quarter. Finally, Signaturefd LLC boosted its position in Coupang by 438.9% in the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after buying an additional 1,931 shares during the period. 83.72% of the stock is owned by institutional investors.

Coupang Stock Performance

Shares of Coupang stock opened at $23.44 on Tuesday. The company has a market capitalization of $42.16 billion, a PE ratio of 41.11, a P/E/G ratio of 215.12 and a beta of 1.07. The company has a 50-day simple moving average of $25.02 and a two-hundred day simple moving average of $23.10. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter in the prior year, the company posted $0.05 earnings per share. Coupang’s revenue for the quarter was up 27.2% compared to the same quarter last year. Research analysts expect that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Insider Transactions at Coupang

In other Coupang news, CEO Bom Kim sold 15,000,000 shares of the firm’s stock in a transaction on 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 owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 750,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $24.01 per share, for a total transaction of $18,007,500.00. Following the completion of the acquisition, the director now directly owns 52,038,723 shares of the company’s stock, valued at approximately $1,249,449,739.23. The trade was a 1.46 % 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.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. CLSA upgraded 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 report on Wednesday, September 4th. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.56.

Coupang 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.