30,957 Shares in Coupang, Inc. (NYSE:CPNG) Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,957 shares of the company's stock, valued at approximately $760,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPNG. Asset Dedication LLC lifted its position in shares of Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company's stock worth $30,000 after purchasing an additional 990 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company's stock worth $32,000 after purchasing an additional 484 shares during the last quarter. GAMMA Investing LLC raised its stake in Coupang by 308.2% during the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company's stock worth $41,000 after acquiring an additional 1,470 shares during the period. Wolff Wiese Magana LLC raised its stake in Coupang by 330.4% during the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company's stock worth $41,000 after acquiring an additional 1,295 shares during the period. Finally, Signaturefd LLC raised its stake in Coupang by 438.9% during the third quarter. Signaturefd LLC now owns 2,371 shares of the company's stock worth $58,000 after acquiring an additional 1,931 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CPNG. 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. Sanford C. Bernstein upgraded shares of Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 price objective on the stock in a research note on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $27.56.

Insider Activity at Coupang

In related news, CEO Bom Kim sold 15,000,000 shares of the firm'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 transaction of $344,550,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,000,000 shares in the company, 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 filing with the SEC, which is available at the SEC website. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of Coupang stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the completion of the acquisition, the director now directly owns 52,726,423 shares of the company's stock, valued at $1,269,652,265.84. This represents a 1.32 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 13.60% of the company's stock.

Coupang Stock Performance

Shares of NYSE:CPNG traded up $0.20 during trading hours on Tuesday, hitting $25.21. The stock had a trading volume of 4,689,029 shares, compared to its average volume of 9,710,621. The stock's fifty day simple moving average is $25.03 and its 200 day simple moving average is $22.99. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $26.91. The firm has a market capitalization of $45.34 billion, a price-to-earnings ratio of 44.22, a PEG ratio of 218.90 and a beta of 1.10. 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 announced 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. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same quarter last year, the business earned $0.05 earnings per share. Coupang's revenue was up 27.2% compared to the same quarter last year. Sell-side analysts anticipate that Coupang, Inc. will post 0.11 earnings per share 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.