Ninety One North America Inc. Buys Shares of 848,029 Coupang, Inc. (NYSE:CPNG)

Ninety One North America Inc. acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 848,029 shares of the company's stock, valued at approximately $18,640,000.

Several other large investors have also made changes to their positions in the business. Brooklyn Investment Group purchased a new position in Coupang in the third quarter valued at about $28,000. Asset Dedication LLC increased its holdings in Coupang by 438.1% in the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company's stock worth $30,000 after acquiring an additional 990 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Coupang by 63.1% in 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 during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Coupang in the fourth quarter worth approximately $31,000. Finally, Wolff Wiese Magana LLC boosted its position 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 last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Pranam Kolari sold 8,459 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares of the company's stock, valued at $3,143,801.88. The trade was a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the transaction, the director now 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 15,009,234 shares of company stock worth $344,761,515. 13.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered their price objective on Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.56.

Coupang Stock Performance

CPNG stock traded up $0.42 during midday trading on Wednesday, hitting $24.13. 2,336,317 shares of the company traded hands, compared to its average volume of 5,902,478. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The business has a 50 day simple moving average of $23.04 and a 200-day simple moving average of $23.46. The stock has a market capitalization of $43.40 billion, a price-to-earnings ratio of 42.33, a price-to-earnings-growth ratio of 42.58 and a beta of 1.11. Coupang, Inc. has a twelve month low of $13.67 and a twelve month high of $26.91.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.05. The firm had revenue of $7.87 billion for 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 company's revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 earnings per share. As a group, equities research analysts predict that Coupang, Inc. will post 0.14 earnings per share for the current year.

About Coupang

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.