Charles Schwab Investment Management Inc. Acquires 138,416 Shares of Coupang, Inc. (NYSE:CPNG)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp raised its stake in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company's stock worth $32,000 after buying an additional 484 shares during the last quarter. Baader Bank Aktiengesellschaft lifted 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 valued at $219,000 after purchasing an additional 567 shares during the period. Covestor Ltd lifted 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 valued at $159,000 after purchasing an additional 612 shares during the period. Resonant Capital Advisors LLC boosted its position in shares of Coupang by 6.0% during the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company's stock valued at $235,000 after purchasing an additional 635 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in Coupang by 15.4% during the second quarter. National Bank of Canada FI now owns 6,687 shares of the company's stock worth $141,000 after purchasing an additional 890 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CPNG has been the subject of several recent research reports. CLSA upgraded shares of Coupang from a "hold" rating to an "outperform" rating and upped their target price for the stock from $18.00 to $31.00 in a 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 research report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.56.

Coupang Price Performance

CPNG stock traded down $0.13 during mid-day trading on Friday, reaching $23.90. 5,117,521 shares of the company traded hands, compared to its average volume of 9,749,475. The company has a fifty day moving average price of $25.02 and a 200-day moving average price of $23.10. The company has a market capitalization of $42.99 billion, a P/E ratio of 41.92, a P/E/G ratio of 214.85 and a beta of 1.07. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

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

Insider Activity

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

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.