Y Intercept Hong Kong Ltd Takes Position in Coupang, Inc. (NYSE:CPNG)

Y Intercept Hong Kong Ltd acquired a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 102,457 shares of the company's stock, valued at approximately $2,515,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Handelsbanken Fonder AB increased its stake in shares of 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 acquiring an additional 24,553 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Coupang by 22.3% during the third 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 last quarter. abrdn plc boosted its holdings in Coupang by 40.2% in the 3rd quarter. abrdn plc now owns 202,359 shares of the company's stock valued at $4,968,000 after purchasing an additional 58,060 shares during the last quarter. Plotkin Financial Advisors LLC purchased a new stake in shares of Coupang in the 3rd quarter valued at approximately $491,000. Finally, Coronation Fund Managers Ltd. grew its position in Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company's stock worth $118,258,000 after acquiring an additional 2,802,325 shares during the period. Hedge funds and other institutional investors own 83.72% of the company's stock.

Coupang Stock Up 1.2 %

Coupang stock traded up $0.29 during mid-day trading on Tuesday, hitting $23.72. The company had a trading volume of 7,171,217 shares, compared to its average volume of 9,694,696. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The business has a fifty day moving average of $25.00 and a 200 day moving average of $23.11. The stock has a market cap of $42.67 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 215.12 and a beta of 1.07.

Coupang (NYSE:CPNG - Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company's revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. On average, sell-side analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other news, Director Greenoaks Capital Partners Llc acquired 750,000 shares of Coupang stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the completion of the transaction, the director now directly owns 52,038,723 shares in the company, valued at approximately $1,249,449,739.23. This trade represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders own 13.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CPNG shares. Sanford C. Bernstein raised Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 target price on the stock in a research report 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 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 stock has a consensus rating of "Moderate Buy" and an average target price 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.