Autumn Glory Partners LLC Makes New $320,000 Investment in Coupang, Inc. (NYSE:CPNG)

Autumn Glory Partners LLC purchased a new position in Coupang, Inc. (NYSE:CPNG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,956 shares of the company’s stock, valued at approximately $320,000.

Several other hedge funds have also added to or reduced their stakes in the business. Baillie Gifford & Co. raised its stake in shares of Coupang by 15.9% during the first quarter. Baillie Gifford & Co. now owns 168,600,998 shares of the company’s stock valued at $2,999,412,000 after acquiring an additional 23,076,870 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Coupang by 31.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock valued at $1,403,015,000 after acquiring an additional 18,894,909 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Coupang by 2,570.0% during the second 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 during the last quarter. Assenagon Asset Management S.A. raised its stake 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 acquiring an additional 1,615,448 shares during the last quarter. Finally, Coronation Fund Managers Ltd. raised its stake in shares of Coupang by 146.2% during the first quarter. Coronation Fund Managers Ltd. now owns 2,688,450 shares of the company’s stock valued at $47,828,000 after acquiring an additional 1,596,486 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Coupang news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the sale, the insider now owns 170,356 shares in the company, valued at approximately $3,390,084.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coupang news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the sale, the insider now owns 170,356 shares in the company, valued at approximately $3,390,084.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greenoaks Capital Partners Llc acquired 150,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $22.64 per share, for a total transaction of $3,396,000.00. Following the acquisition, the director now owns 49,874,924 shares of the company’s stock, valued at approximately $1,129,168,279.36. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 601,300 shares of company stock worth $13,604,354 and have sold 411,388 shares worth $9,452,761. Corporate insiders own 13.60% of the company’s stock.

Coupang Price Performance

Shares of NYSE CPNG opened at $26.01 on Wednesday. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.28. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. The company’s 50-day moving average is $24.21 and its 200 day moving average is $22.66. The stock has a market capitalization of $46.50 billion, a P/E ratio of 37.15, a P/E/G ratio of 282.07 and a beta of 1.11.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The business’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. On average, sell-side analysts expect that Coupang, Inc. will post 0.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPNG. Sanford C. Bernstein raised 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. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and upped their price objective for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.