Los Angeles Capital Management LLC Sells 1,009,385 Shares of Coupang, Inc. (NYSE:CPNG)

Los Angeles Capital Management LLC cut its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 97.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,357 shares of the company's stock after selling 1,009,385 shares during the quarter. Los Angeles Capital Management LLC's holdings in Coupang were worth $672,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CPNG. Baillie Gifford & Co. increased its stake in shares of Coupang by 1.6% in the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company's stock valued at $3,589,783,000 after buying an additional 2,749,027 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Coupang by 31.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company's stock valued at $1,403,015,000 after purchasing an additional 18,894,909 shares during the period. Kontiki Capital Management HK Ltd. increased its position in shares of Coupang by 1.9% in the 1st quarter. Kontiki Capital Management HK Ltd. now owns 8,693,468 shares of the company's stock valued at $154,657,000 after buying an additional 159,900 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of Coupang by 9.6% during the 1st quarter. Bamco Inc. NY now owns 7,942,062 shares of the company's stock valued at $141,289,000 after purchasing an additional 693,898 shares in the last quarter. Finally, Dorsal Capital Management LP boosted its holdings in shares of Coupang by 26.3% in the second quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company's stock valued at $125,700,000 after buying an additional 1,250,000 shares during the period. Institutional investors own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Coupang

In other Coupang news, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the transaction, the director now directly owns 1,969,421 shares of the company's stock, valued at approximately $46,005,674.56. The trade was a 9.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bom Kim sold 15,000,000 shares of the company'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 in the company, valued at $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 1,537,700 shares of company stock valued at $36,862,316 and have sold 15,200,956 shares valued at $349,245,164. 13.60% of the stock is currently owned by insiders.

Coupang Price Performance

Shares of CPNG stock traded down $0.85 during trading on Friday, hitting $24.48. The company had a trading volume of 7,610,886 shares, compared to its average volume of 9,345,434. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91. The firm has a market capitalization of $44.04 billion, a P/E ratio of 42.95, a price-to-earnings-growth ratio of 220.34 and a beta of 1.10. The stock's 50-day moving average price is $24.90 and its 200 day moving average price is $22.90.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $7.76 billion. During the same period last year, the firm posted $0.05 earnings per share. The firm's quarterly revenue was up 27.2% compared to the same quarter last year. Equities analysts expect that Coupang, Inc. will post 0.11 EPS for the current fiscal 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.