Coupang, Inc. (NYSE:CPNG) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 7.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 477,021 shares of the company's stock after acquiring an additional 33,701 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Coupang were worth $11,711,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. grew its position in Coupang by 1.6% during the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company's stock worth $3,589,783,000 after purchasing an additional 2,749,027 shares during the period. FMR LLC grew its holdings in Coupang by 32.0% during the third quarter. FMR LLC now owns 27,153,608 shares of the company's stock worth $666,621,000 after acquiring an additional 6,584,910 shares during the period. Dorsal Capital Management LP raised its position in Coupang by 26.3% during the second quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company's stock valued at $125,700,000 after acquiring an additional 1,250,000 shares in the last quarter. Coronation Fund Managers Ltd. lifted its holdings in Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company's stock valued at $118,258,000 after acquiring an additional 2,802,325 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Coupang by 55.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company's stock worth $94,799,000 after purchasing an additional 1,615,448 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Coupang Price Performance

Shares of CPNG stock traded down $0.13 on Friday, reaching $23.90. 5,117,521 shares of the company were exchanged, compared to its average volume of 9,749,475. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The business has a 50-day moving average price of $25.02 and a 200 day moving average price of $23.10. The company has a market cap of $42.99 billion, a price-to-earnings ratio of 41.93, a P/E/G ratio of 214.85 and a beta of 1.07.

Coupang (NYSE:CPNG - Get Free Report) last announced its 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 business had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business's revenue was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 earnings per share. Equities research analysts forecast that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Coupang

In related news, Director Greenoaks Capital Partners Llc bought 687,700 shares of the company's stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the acquisition, the director now directly owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This represents a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $22.97, for a total value 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 $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CPNG has been the subject of several recent research reports. 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. CLSA raised shares of Coupang from a "hold" rating to an "outperform" rating and lifted their price objective for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.