Coupang, Inc. (NYSE:CPNG) Holdings Cut by Twenty Acre Capital LP

Twenty Acre Capital LP reduced its position in shares of Coupang, Inc. (NYSE:CPNG) by 16.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,414 shares of the company’s stock after selling 69,100 shares during the period. Coupang makes up 7.7% of Twenty Acre Capital LP’s portfolio, making the stock its 2nd biggest holding. Twenty Acre Capital LP’s holdings in Coupang were worth $8,725,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CPNG. Brooklyn Investment Group purchased a new stake in Coupang in the third quarter valued at approximately $28,000. Asset Dedication LLC increased its stake in Coupang by 438.1% in the third 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 last quarter. Van ECK Associates Corp raised its position in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after purchasing an additional 484 shares in the last quarter. GAMMA Investing LLC lifted its stake in Coupang by 308.2% during the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after purchasing an additional 1,470 shares during the last quarter. Finally, Wolff Wiese Magana LLC grew its holdings in shares of Coupang by 330.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after purchasing an additional 1,295 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Shares of NYSE CPNG opened at $25.38 on Friday. The company has a 50 day moving average of $25.10 and a 200 day moving average of $23.05. 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 twelve month low of $13.51 and a twelve month high of $26.91. The firm has a market cap of $45.65 billion, a P/E ratio of 44.52, a PEG ratio of 229.25 and a beta of 1.10.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS 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 return on equity of 11.52% and a net margin of 3.57%. Coupang’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. As a group, research analysts expect that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Insider Activity at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the transaction, the director now directly owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. The trade was a 1.32 % increase in their position. The transaction 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 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 completion of 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 owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. CLSA raised Coupang from a “hold” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.