Coupang, Inc. (NYSE:CPNG) is ShawSpring Partners LLC's 7th Largest Position

ShawSpring Partners LLC lessened its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,963,346 shares of the company's stock after selling 247,113 shares during the quarter. Coupang makes up approximately 9.2% of ShawSpring Partners LLC's portfolio, making the stock its 7th biggest position. ShawSpring Partners LLC owned 0.17% of Coupang worth $72,750,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CPNG. Brooklyn Investment Group bought a new stake in Coupang during the third quarter worth approximately $28,000. Asset Dedication LLC grew its holdings 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 purchasing an additional 990 shares during the period. Van ECK Associates Corp lifted 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 purchasing an additional 484 shares in the last quarter. Wolff Wiese Magana LLC grew its position in shares of 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in Coupang by 308.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company's stock worth $41,000 after acquiring an additional 1,470 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Coupang

In other news, Director Greenoaks Capital Partners Llc bought 750,000 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the transaction, the director now directly owns 52,038,723 shares of the company's stock, valued at $1,249,449,739.23. This represents a 1.46 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $344,550,000.00. Following the completion of the transaction, the chief executive officer now owns 2,000,000 shares of the company's stock, valued at approximately $45,940,000. The trade was a 88.24 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.

Coupang Trading Up 1.5 %

Shares of Coupang stock traded up $0.37 during mid-day trading on Wednesday, hitting $25.58. 4,061,357 shares of the stock were exchanged, compared to its average volume of 9,684,748. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $26.91. The stock has a market capitalization of $46.01 billion, a price-to-earnings ratio of 44.22, a price-to-earnings-growth ratio of 225.02 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $25.03 and a 200 day simple moving average of $22.99.

Coupang (NYSE:CPNG - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $7.76 billion. During the same period in the previous year, the firm earned $0.05 earnings per share. Coupang's revenue for the quarter was up 27.2% compared to the same quarter last year. Research analysts forecast that Coupang, Inc. will post 0.11 EPS for the current year.

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.