Bank of Hawaii Makes New Investment in Coupang, Inc. (NYSE:CPNG)

Bank of Hawaii acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 24,367 shares of the company's stock, valued at approximately $598,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in shares of Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company's stock worth $32,000 after buying an additional 484 shares in the last quarter. Baader Bank Aktiengesellschaft raised its stake in shares of Coupang by 5.7% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company's stock worth $219,000 after buying an additional 567 shares in the last quarter. Covestor Ltd raised its stake in shares of Coupang by 10.4% in the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company's stock worth $159,000 after buying an additional 612 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in shares of Coupang by 6.0% in the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company's stock worth $235,000 after buying an additional 635 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Coupang by 15.4% in the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company's stock worth $141,000 after buying an additional 890 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPNG. 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 research report on Monday, October 7th. CLSA raised Coupang from a "hold" rating to an "outperform" rating and boosted their target price for the stock 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, Coupang currently has an average rating of "Moderate Buy" and an average target price of $27.56.

Insiders Place Their Bets

In related news, CEO Bom Kim sold 15,000,000 shares of the firm's stock in a transaction on 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 directly owns 2,000,000 shares of the company's stock, valued at $45,940,000. This trade represents a 88.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of $24.08 per share, with a total value of $16,559,816.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company's stock.

Coupang Stock Performance

NYSE:CPNG traded up $0.20 during mid-day trading on Tuesday, hitting $25.21. 4,689,029 shares of the company's stock traded hands, compared to its average volume of 9,710,621. The firm has a 50 day moving average of $25.03 and a two-hundred day moving average of $22.99. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $26.91. The firm has a market capitalization of $45.34 billion, a price-to-earnings ratio of 44.22, a price-to-earnings-growth ratio of 218.90 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG - Get Free Report) last announced its earnings results 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. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter in the prior year, the company earned $0.05 EPS. The firm's revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities analysts forecast 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.