Whale Rock Capital Management LLC Sells 626,483 Shares of Coupang, Inc. (NYSE:CPNG)

Whale Rock Capital Management LLC decreased its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 7.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,919,803 shares of the company's stock after selling 626,483 shares during the period. Coupang accounts for approximately 2.7% of Whale Rock Capital Management LLC's holdings, making the stock its 14th largest position. Whale Rock Capital Management LLC owned approximately 0.44% of Coupang worth $194,431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its stake in Coupang by 308.2% in the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company's stock valued at $41,000 after acquiring an additional 1,470 shares during the last quarter. CWM LLC boosted its stake in shares of Coupang by 1.9% during the 2nd quarter. CWM LLC now owns 134,844 shares of the company's stock worth $2,825,000 after acquiring an additional 2,481 shares during the period. Opal Wealth Advisors LLC bought a new stake in Coupang in the 2nd quarter valued at $74,000. SG Americas Securities LLC acquired a new stake in Coupang during the 2nd quarter valued at $175,000. Finally, Ignite Planners LLC increased its holdings in shares of Coupang by 10.3% in the second quarter. Ignite Planners LLC now owns 22,009 shares of the company's stock valued at $477,000 after purchasing an additional 2,050 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Insider Transactions at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $24.01 per share, for a total transaction of $18,007,500.00. Following the transaction, the director now owns 52,038,723 shares in the company, valued at $1,249,449,739.23. The trade was a 1.46 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction on Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.60% of the company's stock.

Coupang Price Performance

CPNG stock traded down $0.18 during midday trading on Friday, reaching $23.85. The company had a trading volume of 3,580,710 shares, compared to its average volume of 9,717,037. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $26.91. The company has a market capitalization of $42.90 billion, a price-to-earnings ratio of 42.16, a price-to-earnings-growth ratio of 215.30 and a beta of 1.07. The stock has a 50 day moving average price of $25.04 and a 200-day moving average price of $23.09.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings data 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. The business 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 quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 EPS. Equities research analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CPNG shares. CLSA upgraded shares of Coupang from a "hold" rating to an "outperform" rating and upped their price target for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein upgraded Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 target price on the stock in a research note on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.