Wilmington Savings Fund Society FSB Buys New Shares in Coupang, Inc. (NYSE:CPNG)

Wilmington Savings Fund Society FSB acquired a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,564 shares of the company's stock, valued at approximately $1,094,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Coupang by 32.0% during the third quarter. FMR LLC now owns 27,153,608 shares of the company's stock worth $666,621,000 after purchasing an additional 6,584,910 shares during the period. Coronation Fund Managers Ltd. raised its stake 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 worth $118,258,000 after buying an additional 2,802,325 shares during the period. Baillie Gifford & Co. increased its position in shares of Coupang by 1.6% during the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company's stock worth $3,589,783,000 after purchasing an additional 2,749,027 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Coupang by 43.2% during the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company's stock worth $211,868,000 after purchasing an additional 2,603,046 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Coupang by 762.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company's stock worth $68,710,000 after purchasing an additional 2,474,175 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Coupang Stock Performance

Shares of NYSE CPNG traded down $0.43 during mid-day trading on Friday, hitting $23.89. The company had a trading volume of 6,092,863 shares, compared to its average volume of 9,658,216. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The stock has a market cap of $42.97 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 215.03 and a beta of 1.07. The firm's 50 day simple moving average is $24.97 and its two-hundred day simple moving average is $23.15.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $7.76 billion. During the same period last year, the firm earned $0.05 EPS. The firm's revenue for the quarter was up 27.2% on a year-over-year basis. As a group, equities research analysts forecast that Coupang, Inc. will post 0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Sanford C. Bernstein upgraded Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 target price for the company in a report on Monday, October 7th. CLSA upgraded Coupang from a "hold" rating to an "outperform" rating and boosted their target price for the stock from $18.00 to $31.00 in a research note 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.56.

Insider Transactions at Coupang

In related news, 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $24.08 per share, with a total value of $16,559,816.00. Following the transaction, the director now owns 52,726,423 shares of the company's stock, valued at approximately $1,269,652,265.84. The trade was a 1.32 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company's stock.

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.