Bank of Montreal Can Buys 233,753 Shares of Coupang, Inc. (NYSE:CPNG)

Bank of Montreal Can raised its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 2,058.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,109 shares of the company's stock after purchasing an additional 233,753 shares during the period. Bank of Montreal Can's holdings in Coupang were worth $6,081,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Coupang by 63.1% in 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 during the period. Baader Bank Aktiengesellschaft lifted its position in Coupang by 5.7% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company's stock worth $219,000 after acquiring an additional 567 shares during the last quarter. Covestor Ltd boosted its holdings in Coupang by 10.4% during the third quarter. Covestor Ltd now owns 6,479 shares of the company's stock valued at $159,000 after acquiring an additional 612 shares during the period. Resonant Capital Advisors LLC boosted its holdings in Coupang by 6.0% during the second quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company's stock valued at $235,000 after acquiring an additional 635 shares during the period. Finally, National Bank of Canada FI grew its position in shares of Coupang by 15.4% in the second quarter. National Bank of Canada FI now owns 6,687 shares of the company's stock valued at $141,000 after purchasing an additional 890 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Coupang

In related news, CEO Bom Kim sold 15,000,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $22.97, for a total value of $344,550,000.00. Following the completion of the sale, the chief executive officer now owns 2,000,000 shares of the company's stock, valued at $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 750,000 shares of Coupang stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $24.01 per share, for a total transaction of $18,007,500.00. Following the acquisition, the director now owns 52,038,723 shares in the company, valued at approximately $1,249,449,739.23. This represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by insiders.

Coupang Price Performance

NYSE CPNG traded down $0.91 on Tuesday, reaching $23.94. The company's stock had a trading volume of 34,774,277 shares, compared to its average volume of 9,816,777. The firm has a market cap of $43.06 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 223.67 and a beta of 1.07. 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, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91. The business has a 50-day moving average price of $25.10 and a 200 day moving average price of $23.07.

Coupang (NYSE:CPNG - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7.76 billion. During the same period in the prior year, the firm posted $0.05 EPS. Coupang's quarterly revenue was up 27.2% compared to the same quarter last year. Sell-side analysts expect that Coupang, Inc. will post 0.11 EPS for the current year.

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.