Coupang, Inc. (NYSE:CPNG) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its holdings in Coupang, Inc. (NYSE:CPNG) by 48.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,767 shares of the company’s stock after selling 63,555 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Coupang were worth $1,639,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Asset Dedication LLC lifted its position in shares of Coupang by 438.1% in the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after acquiring an additional 990 shares in the last quarter. Van ECK Associates Corp grew its position in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after purchasing an additional 484 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of Coupang by 330.4% during the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after acquiring an additional 1,295 shares in the last quarter. Signaturefd LLC increased its holdings in Coupang by 438.9% in the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after buying an additional 1,931 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Coupang by 360.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,118 shares of the company’s stock valued at $86,000 after purchasing an additional 3,224 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insiders Place Their Bets

In related news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the acquisition, the director now directly owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. This represents a 1.32 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the sale, the chief executive officer now owns 2,000,000 shares in the company, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CPNG shares. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and raised their price target for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.56.

Coupang Price Performance

Shares of CPNG opened at $23.44 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91. The stock has a market cap of $42.16 billion, a PE ratio of 41.40, a PEG ratio of 215.12 and a beta of 1.07. The business has a 50-day simple moving average of $25.02 and a two-hundred day simple moving average of $23.10.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. The firm had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 earnings per share. Analysts anticipate that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

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.