State Street Corp Increases Stake in Coupang, Inc. (NYSE:CPNG)

State Street Corp grew its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 1.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 14,125,599 shares of the company's stock after purchasing an additional 259,400 shares during the period. State Street Corp owned about 0.79% of Coupang worth $346,783,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPNG. Brooklyn Investment Group purchased a new position in shares of Coupang in the 3rd quarter worth approximately $28,000. Asset Dedication LLC lifted its stake in 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 last quarter. Van ECK Associates Corp lifted its stake in Coupang by 63.1% in the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company's stock valued at $32,000 after purchasing an additional 484 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company's stock valued at $41,000 after purchasing an additional 1,295 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Coupang by 438.9% during the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company's stock valued at $58,000 after acquiring an additional 1,931 shares during the period. 83.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Coupang

In other Coupang news, 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 transaction, the chief executive officer now owns 2,000,000 shares of the company's stock, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of $24.01 per share, with a total value 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. The trade was a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.60% of the company's stock.

Coupang Trading Up 1.2 %

Shares of Coupang stock traded up $0.29 during trading on Tuesday, reaching $23.72. 6,939,369 shares of the stock were exchanged, compared to its average volume of 9,694,197. 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 stock's fifty day moving average is $25.00 and its 200 day moving average is $23.11. The firm has a market cap of $42.67 billion, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 215.12 and a beta of 1.07. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same period last year, the business posted $0.05 earnings per share. Coupang's quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current fiscal 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.