Wellington Management Group LLP Increases Holdings in Coupang, Inc. (NYSE:CPNG)

Wellington Management Group LLP increased its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 43.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,630,058 shares of the company's stock after acquiring an additional 2,603,046 shares during the period. Wellington Management Group LLP owned about 0.48% of Coupang worth $211,868,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its position in Coupang by 2.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company's stock worth $21,706,000 after purchasing an additional 24,553 shares during the period. abrdn plc grew its position in Coupang by 40.2% in the 3rd quarter. abrdn plc now owns 202,359 shares of the company's stock worth $4,968,000 after purchasing an additional 58,060 shares during the period. Plotkin Financial Advisors LLC bought a new stake in Coupang in the 3rd quarter worth approximately $491,000. Charles Schwab Investment Management Inc. grew its position in Coupang by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company's stock worth $18,640,000 after purchasing an additional 138,416 shares during the period. Finally, Coronation Fund Managers Ltd. grew its position in shares of Coupang by 139.1% during the 3rd 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. Institutional investors own 83.72% of the company's stock.

Coupang Price Performance

Coupang stock traded down $0.46 during mid-day trading on Monday, hitting $23.44. The stock had a trading volume of 5,350,207 shares, compared to its average volume of 9,705,817. The firm has a market capitalization of $42.16 billion, a P/E ratio of 41.40, a P/E/G ratio of 215.12 and a beta of 1.07. 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 firm's 50 day moving average is $25.02 and its 200 day moving average is $23.10. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91.

Coupang (NYSE:CPNG - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. Coupang's quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. On average, sell-side analysts forecast that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Coupang news, CEO Bom Kim sold 15,000,000 shares of the business's stock in a transaction 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 sale, the chief executive officer now owns 2,000,000 shares in the company, valued at $45,940,000. The trade was a 88.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the firm's stock in a transaction 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 purchase, the director now owns 52,038,723 shares in the company, valued at approximately $1,249,449,739.23. This represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.