Quadrature Capital Ltd Sells 142,458 Shares of Coupang, Inc. (NYSE:CPNG)

Quadrature Capital Ltd lowered its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 53.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,921 shares of the company's stock after selling 142,458 shares during the quarter. Quadrature Capital Ltd's holdings in Coupang were worth $3,043,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPNG. Handelsbanken Fonder AB grew its holdings in Coupang by 2.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company's stock valued at $21,706,000 after buying an additional 24,553 shares in the last quarter. abrdn plc boosted its position in shares of Coupang by 40.2% during the 3rd quarter. abrdn plc now owns 202,359 shares of the company's stock valued at $4,968,000 after acquiring an additional 58,060 shares during the last quarter. Plotkin Financial Advisors LLC purchased a new position in shares of Coupang in the third quarter valued at $491,000. Coronation Fund Managers Ltd. increased its position in Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company's stock worth $118,258,000 after purchasing an additional 2,802,325 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Coupang by 55.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company's stock valued at $94,799,000 after purchasing an additional 1,615,448 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Coupang Trading Down 0.6 %

NYSE:CPNG traded down $0.14 during mid-day trading on Friday, hitting $23.90. 5,113,763 shares of the stock traded hands, compared to its average volume of 9,724,256. The stock has a market capitalization of $42.98 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 215.30 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 firm's 50 day moving average is $25.04 and its two-hundred day moving average is $23.09. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

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

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of recent research reports. CLSA raised shares of Coupang from a "hold" rating to an "outperform" rating and lifted their price objective for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein upgraded Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 price target for the company in a research report on Monday, October 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.56.

Insider Activity at Coupang

In other Coupang news, CEO Bom Kim sold 15,000,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,000,000 shares in the company, valued at $45,940,000. This represents a 88.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greenoaks Capital Partners Llc bought 750,000 shares of the company's stock in a transaction on Friday, November 8th. The stock was bought at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the completion of the purchase, the director now directly owns 52,038,723 shares in the company, valued at approximately $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 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.