Coupang, Inc. $CPNG Shares Sold by Bamco Inc. NY

Bamco Inc. NY lowered its position in Coupang, Inc. (NYSE:CPNG) by 15.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,684,350 shares of the company’s stock after selling 828,161 shares during the quarter. Bamco Inc. NY owned 0.26% of Coupang worth $140,343,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Dodge & Cox boosted its holdings in Coupang by 101.6% in the first quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock valued at $894,413,000 after purchasing an additional 20,555,600 shares during the last quarter. Norges Bank acquired a new position in shares of Coupang in the 2nd quarter valued at approximately $587,186,000. Marshall Wace LLP grew its position in shares of Coupang by 115.9% during the second quarter. Marshall Wace LLP now owns 6,360,239 shares of the company’s stock worth $190,553,000 after buying an additional 3,414,359 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Coupang by 291.2% in the second quarter. American Century Companies Inc. now owns 4,343,079 shares of the company’s stock worth $130,119,000 after buying an additional 3,233,004 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Coupang by 25.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,897,027 shares of the company’s stock valued at $326,475,000 after acquiring an additional 2,210,447 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Coupang news, VP Pranam Kolari sold 11,653 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $31.98, for a total value of $372,662.94. Following the completion of the transaction, the vice president directly owned 147,023 shares in the company, valued at $4,701,795.54. This trade represents a 7.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 12.78% of the company’s stock.

Coupang Stock Performance

Shares of NYSE CPNG opened at $25.61 on Friday. The stock’s fifty day simple moving average is $29.43 and its 200 day simple moving average is $29.70. The stock has a market capitalization of $46.78 billion, a price-to-earnings ratio of 121.96 and a beta of 1.18. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 0.13. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $34.08.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.13 billion. Coupang had a return on equity of 6.95% and a net margin of 1.16%.Coupang’s revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share. As a group, sell-side analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on CPNG shares. Morgan Stanley raised their price objective on shares of Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Bank of America lifted their price target on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Barclays upped their price objective on Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Mizuho boosted their price target on Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.38.

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.