Cwm LLC raised its holdings in shares of Coupang, Inc. (NYSE:CPNG – Get Rating) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 122,171 shares of the company’s stock after purchasing an additional 923 shares during the period. Cwm LLC’s holdings in Coupang were worth $2,037,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. Strs Ohio boosted its stake in Coupang by 0.7% during the 3rd quarter. Strs Ohio now owns 186,692 shares of the company’s stock valued at $3,112,000 after purchasing an additional 1,270 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Coupang by 11.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 151,483 shares of the company’s stock valued at $2,525,000 after purchasing an additional 15,498 shares during the last quarter. Calamos Advisors LLC purchased a new stake in Coupang during the 3rd quarter valued at $200,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Coupang by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 163,463 shares of the company’s stock valued at $2,725,000 after purchasing an additional 3,021 shares during the last quarter. Finally, K.J. Harrison & Partners Inc purchased a new stake in Coupang during the 3rd quarter valued at $308,000. 71.56% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on CPNG. Mizuho lowered their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, November 10th. New Street Research began coverage on Coupang in a report on Thursday, December 1st. They set a “buy” rating and a $25.00 price target on the stock. Finally, HSBC began coverage on Coupang in a report on Friday, October 7th. They set a “buy” rating and a $27.80 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.61.
Coupang Price Performance
Coupang (NYSE:CPNG – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. Coupang had a negative return on equity of 28.35% and a negative net margin of 2.95%. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.15 billion. Sell-side analysts anticipate that Coupang, Inc. will post -0.07 earnings per share for the current year.
Insiders Place Their Bets
In other Coupang news, Director Benjamin Sun sold 50,000 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $19.15, for a total value of $957,500.00. Following the completion of the sale, the director now owns 2,339,473 shares in the company, valued at approximately $44,800,907.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Greenoaks Capital Partners Llc sold 200,000 shares of the firm’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $18.26, for a total transaction of $3,652,000.00. Following the completion of the transaction, the director now owns 70,651,928 shares in the company, valued at $1,290,104,205.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Benjamin Sun sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $19.15, for a total value of $957,500.00. Following the transaction, the director now owns 2,339,473 shares of the company’s stock, valued at approximately $44,800,907.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,800,000 shares of company stock worth $680,784,835. Corporate insiders own 16.70% of the company’s stock.
Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company 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.
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