Charles Schwab Investment Management Inc. Raises Stake in Coupang, Inc. (NYSE:CPNG)

Charles Schwab Investment Management Inc. increased its holdings in Coupang, Inc. (NYSE:CPNG) by 22.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 759,286 shares of the company’s stock after buying an additional 138,416 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Coupang were worth $18,640,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CPNG. GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 1,470 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Coupang during the 2nd quarter worth approximately $74,000. SG Americas Securities LLC purchased a new position in shares of Coupang during the 2nd quarter valued at approximately $175,000. Ignite Planners LLC lifted its stake in shares of Coupang by 10.3% in the 2nd quarter. Ignite Planners LLC now owns 22,009 shares of the company’s stock valued at $477,000 after purchasing an additional 2,050 shares during the period. Finally, Prospect Financial Services LLC purchased a new stake in Coupang during the second quarter worth $201,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Performance

Shares of CPNG stock opened at $23.90 on Friday. 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. The firm’s 50 day moving average price is $25.04 and its 200-day moving average price is $23.09. The firm has a market cap of $42.98 billion, a P/E ratio of 42.16, a P/E/G ratio of 215.30 and a beta of 1.07.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The firm had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. As a group, equities research analysts predict that Coupang, Inc. will post 0.11 EPS for the current year.

Insider Buying and Selling at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc bought 750,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the completion of the purchase, the director now owns 52,038,723 shares of the company’s stock, valued at approximately $1,249,449,739.23. This represents a 1.46 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction on 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 in the company, valued at $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on CPNG. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Monday, October 7th. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and increased their target price for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Coupang presently has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Company 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.