Coupang, Inc. (NYSE:CPNG) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co trimmed its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,174,840 shares of the company's stock after selling 60,000 shares during the period. Coupang accounts for approximately 4.5% of Fiduciary Trust Co's holdings, making the stock its 4th biggest position. Fiduciary Trust Co owned approximately 0.73% of Coupang worth $323,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. increased its stake in Coupang by 1.6% during 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. FMR LLC increased its stake in shares of Coupang by 32.0% during the third quarter. FMR LLC now owns 27,153,608 shares of the company's stock valued at $666,621,000 after acquiring an additional 6,584,910 shares during the period. Dorsal Capital Management LP raised its holdings in Coupang by 26.3% during the second quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company's stock worth $125,700,000 after purchasing an additional 1,250,000 shares in the last quarter. Coronation Fund Managers Ltd. lifted 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 period. Finally, Assenagon Asset Management S.A. boosted its stake in Coupang by 55.5% during the 2nd 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.

Insider Buying and Selling

In other news, CEO Bom Kim sold 15,000,000 shares of the company's stock in a transaction dated Monday, November 11th. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of the firm's stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $24.08 per share, with a total value of $16,559,816.00. Following the transaction, the director now directly owns 52,726,423 shares of the company's stock, valued at approximately $1,269,652,265.84. This trade represents a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 13.60% of the company's stock.

Coupang Trading Up 1.0 %

Shares of NYSE:CPNG traded up $0.26 during midday trading on Thursday, reaching $25.47. The company had a trading volume of 6,215,435 shares, compared to its average volume of 9,695,428. The company has a fifty day simple moving average of $25.06 and a two-hundred day simple moving average of $23.01. The firm has a market cap of $45.82 billion, a price-to-earnings ratio of 44.68, a price-to-earnings-growth ratio of 225.02 and a beta of 1.10. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $26.91. 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 (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.05. The company had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business's quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. Research analysts predict that Coupang, Inc. will post 0.11 earnings per share for the current year.

Analyst Ratings Changes

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

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.