625,211 Shares in Coupang, Inc. (NYSE:CPNG) Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 625,211 shares of the company's stock, valued at approximately $15,349,000.

A number of other hedge funds also recently modified their holdings of CPNG. Brooklyn Investment Group bought a new stake in Coupang during the third quarter valued at $28,000. Asset Dedication LLC lifted its stake in shares of Coupang by 438.1% in the third quarter. Asset Dedication LLC now owns 1,216 shares of the company's stock valued at $30,000 after buying an additional 990 shares in the last quarter. Van ECK Associates Corp boosted 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 valued at $32,000 after buying an additional 484 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in Coupang by 330.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company's stock valued at $41,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings 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 purchasing an additional 1,931 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Coupang Stock Performance

Shares of CPNG traded up $0.17 during mid-day trading on Wednesday, hitting $23.89. The stock had a trading volume of 6,154,940 shares, compared to its average volume of 9,674,780. The business has a fifty day moving average price of $24.99 and a 200-day moving average price of $23.12. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91. The firm has a market cap of $42.97 billion, a P/E ratio of 41.61, a PEG ratio of 215.12 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 (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7.76 billion. During the same period in the previous year, the business earned $0.05 earnings per share. The firm's quarterly revenue was up 27.2% compared to the same quarter last year. On average, equities research analysts expect that Coupang, Inc. will post 0.11 EPS for the current year.

Analysts Set New Price Targets

CPNG has been the topic of several recent analyst reports. CLSA raised shares of Coupang from a "hold" rating to an "outperform" rating and lifted their target price for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein raised Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 price target for the company in a research report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Coupang has an average rating of "Moderate Buy" and an average price target of $27.56.

Insider Transactions at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the business's stock in a transaction dated Monday, November 11th. The stock was bought 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 owns 52,726,423 shares of the company's stock, valued at $1,269,652,265.84. This trade represents a 1.32 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 $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.

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.