Geode Capital Management LLC Grows Stock Position in Coupang, Inc. (NYSE:CPNG)

Geode Capital Management LLC raised its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 0.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,885,243 shares of the company's stock after purchasing an additional 29,164 shares during the quarter. Geode Capital Management LLC owned approximately 0.33% of Coupang worth $144,483,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CPNG. Brooklyn Investment Group bought a new position in shares of Coupang during the 3rd quarter worth approximately $28,000. Asset Dedication LLC boosted its holdings in shares of Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company's stock worth $30,000 after buying an additional 990 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company's stock worth $32,000 after buying an additional 484 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in shares of Coupang by 330.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company's stock worth $41,000 after buying an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Coupang by 438.9% during the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company's stock worth $58,000 after buying an additional 1,931 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Coupang Stock Down 0.3 %

Shares of NYSE CPNG traded down $0.08 during trading on Tuesday, hitting $23.52. The stock had a trading volume of 13,425,949 shares, compared to its average volume of 9,658,625. The firm has a fifty day moving average of $24.88 and a two-hundred day moving average of $23.16. The company has a market capitalization of $42.31 billion, a PE ratio of 41.26, a PEG ratio of 215.03 and a beta of 1.07. 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, Inc. has a 12 month low of $13.51 and a 12 month high of $26.91.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (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 the consensus estimate of $7.76 billion. During the same period in the prior year, the firm posted $0.05 EPS. The firm's quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts forecast that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Insider Activity

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

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of research analyst reports. Sanford C. Bernstein upgraded Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 price target on the stock in a report on Monday, October 7th. CLSA upgraded Coupang from a "hold" rating to an "outperform" rating and increased their target price for the stock from $18.00 to $31.00 in a report 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 has a consensus rating of "Moderate Buy" and an average target price of $27.56.

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.