Verition Fund Management LLC Grows Stock Position in Coupang, Inc. (NYSE:CPNG)

Verition Fund Management LLC boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 96.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,205 shares of the company's stock after purchasing an additional 59,561 shares during the period. Verition Fund Management LLC's holdings in Coupang were worth $2,976,000 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 purchased a new stake in shares of Coupang in the third quarter worth $28,000. Asset Dedication LLC grew its position in shares of Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company's stock valued at $30,000 after acquiring an additional 990 shares during the period. Van ECK Associates Corp lifted its position in shares of Coupang by 63.1% during the 3rd 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 in the last quarter. Wolff Wiese Magana LLC boosted its position in shares of Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company's stock worth $41,000 after purchasing an additional 1,295 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Coupang by 308.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company's stock worth $41,000 after buying an additional 1,470 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coupang news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction that occurred on 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 purchase, the director now directly owns 52,726,423 shares of the company's stock, valued at approximately $1,269,652,265.84. This represents a 1.32 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the company'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 sale, the chief executive officer now 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 company insiders.

Coupang Trading Up 1.0 %

CPNG traded up $0.23 on Thursday, hitting $24.10. The company had a trading volume of 4,015,465 shares, compared to its average volume of 9,731,638. The company has a market cap of $43.35 billion, a PE ratio of 42.25, a PEG ratio of 215.30 and a beta of 1.07. 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's fifty day simple moving average is $25.06 and its 200 day simple moving average is $23.09. Coupang, Inc. has a 12-month low of $13.51 and a 12-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, topping analysts' consensus estimates of $0.01 by $0.05. The firm had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm'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 company earned $0.05 EPS. Equities research analysts expect that Coupang, Inc. will post 0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CPNG. Sanford C. Bernstein upgraded Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 price target for the company in a research note on Monday, October 7th. CLSA upgraded shares of Coupang from a "hold" rating to an "outperform" rating and boosted 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.56.

Coupang Company 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.