Orion Portfolio Solutions LLC Raises Position in Coupang, Inc. (NYSE:CPNG)

Orion Portfolio Solutions LLC lifted its stake in Coupang, Inc. (NYSE:CPNG) by 14.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 15,146 shares of the company’s stock after acquiring an additional 1,875 shares during the period. Orion Portfolio Solutions LLC’s holdings in Coupang were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Handelsbanken Fonder AB increased its position in Coupang by 2.9% in the third quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock worth $21,706,000 after buying an additional 24,553 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Coupang by 22.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock valued at $18,640,000 after acquiring an additional 138,416 shares during the period. abrdn plc increased its holdings in Coupang by 40.2% in the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after acquiring an additional 58,060 shares in the last quarter. Plotkin Financial Advisors LLC bought a new stake in Coupang during the 3rd quarter worth approximately $491,000. Finally, Coronation Fund Managers Ltd. lifted its holdings in Coupang by 139.1% during the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after purchasing an additional 2,802,325 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

CPNG has been the subject of a number of analyst reports. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Monday, October 7th. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and increased their price target for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Coupang Stock Performance

Shares of NYSE CPNG opened at $22.56 on Thursday. The company has a market cap of $40.58 billion, a P/E ratio of 39.58, a P/E/G ratio of 215.03 and a beta of 1.07. Coupang, Inc. has a 52-week low of $13.51 and a 52-week 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. The firm’s fifty day moving average is $24.82 and its two-hundred day moving average is $23.15.

Coupang (NYSE:CPNG) last issued its 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. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. During the same period in the previous year, the firm posted $0.05 earnings per share. The business’s revenue was up 27.2% compared to the same quarter last year. As a group, analysts anticipate that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Insider Transactions at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc bought 687,700 shares of Coupang stock in a transaction dated Monday, November 11th. The shares were purchased at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the acquisition, the director now directly owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. This represents a 1.32 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction 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 approximately $45,940,000. The trade was a 88.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

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.