Fmr LLC Purchases 6,584,910 Shares of Coupang, Inc. (NYSE:CPNG)

FMR LLC boosted its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 32.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 27,153,608 shares of the company's stock after buying an additional 6,584,910 shares during the period. FMR LLC owned approximately 1.51% of Coupang worth $666,621,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. West Tower Group LLC grew its holdings in Coupang by 166.7% in the 3rd quarter. West Tower Group LLC now owns 8,000 shares of the company's stock valued at $196,000 after buying an additional 5,000 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Coupang by 2,058.4% in the third quarter. Bank of Montreal Can now owns 245,109 shares of the company's stock valued at $6,081,000 after acquiring an additional 233,753 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Coupang during the third quarter worth about $760,000. Bank of Hawaii bought a new position in Coupang during the third quarter worth about $598,000. Finally, Douglass Winthrop Advisors LLC raised its stake in Coupang by 1.5% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 289,063 shares of the company's stock worth $7,096,000 after purchasing an additional 4,272 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Analysts Set New Price Targets

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

Insider Transactions at Coupang

In other news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the business's stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the acquisition, the director now owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. The trade was a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at approximately $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 13.60% of the company's stock.

Coupang Trading Down 0.4 %

Shares of CPNG traded down $0.11 during mid-day trading on Friday, reaching $25.36. 2,561,657 shares of the company were exchanged, compared to its average volume of 9,664,557. The business has a 50 day simple moving average of $25.06 and a two-hundred day simple moving average of $23.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The stock has a market capitalization of $45.62 billion, a PE ratio of 44.68, a PEG ratio of 229.25 and a beta of 1.10. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91.

Coupang (NYSE:CPNG - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.05. The business had revenue of $7.87 billion during 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%. Coupang's quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. On average, analysts predict that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

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.