Landscape Capital Management L.L.C. lessened its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 44.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,858 shares of the company's stock after selling 32,052 shares during the period. Landscape Capital Management L.L.C.'s holdings in Coupang were worth $979,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Asset Dedication LLC grew its stake in 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 buying an additional 990 shares during the last quarter. Van ECK Associates Corp grew its stake in 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 buying an additional 484 shares during the last quarter. Wolff Wiese Magana LLC grew 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 buying an additional 1,295 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Coupang by 308.2% during the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company's stock valued at $41,000 after purchasing an additional 1,470 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Coupang by 438.9% during the third quarter. Signaturefd LLC now owns 2,371 shares of the company's stock valued at $58,000 after purchasing an additional 1,931 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.
Insider Buying and Selling at Coupang
In other news, Director Greenoaks Capital Partners Llc acquired 750,000 shares of the stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $24.01 per share, for a total transaction of $18,007,500.00. Following the purchase, the director now directly owns 52,038,723 shares of the company's stock, valued at approximately $1,249,449,739.23. This trade represents a 1.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 13.60% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. CLSA raised shares of Coupang from a "hold" rating to an "outperform" rating and increased their price target for the company 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 target price for the company in a report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $27.56.
View Our Latest Stock Report on Coupang
Coupang Stock Up 1.3 %
CPNG traded up $0.32 during trading on Friday, hitting $24.32. The company had a trading volume of 13,137,389 shares, compared to its average volume of 9,621,124. The company has a market capitalization of $43.75 billion, a PE ratio of 42.67, a PEG ratio of 216.02 and a beta of 1.10. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91. The firm's 50-day moving average price is $24.99 and its 200 day moving average price is $22.94. 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 posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion for the quarter, compared to analysts' expectations 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 previous year, the firm posted $0.05 EPS. As a group, equities analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current year.
Coupang Company Profile
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Free Report)
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.
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