Tidal Investments LLC Acquires New Holdings in Coupang, Inc. (NYSE:CPNG)

Tidal Investments LLC acquired a new position in Coupang, Inc. (NYSE:CPNG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 229,967 shares of the company’s stock, valued at approximately $5,646,000.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in shares of Coupang during the 3rd quarter worth $28,000. Asset Dedication LLC raised its holdings in Coupang by 438.1% in the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after purchasing an additional 990 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of 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 buying an additional 484 shares during the last quarter. Wolff Wiese Magana LLC boosted its holdings in shares of Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after buying an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Coupang by 438.9% in the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after buying an additional 1,931 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CPNG. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and lifted their price target for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Coupang Price Performance

Shares of NYSE CPNG opened at $23.89 on Friday. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The firm has a market cap of $42.97 billion, a P/E ratio of 41.91, a P/E/G ratio of 215.03 and a beta of 1.07. The business’s 50 day moving average price is $24.97 and its 200 day moving average price is $23.15.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the prior year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, sell-side analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current year.

Insider Activity

In other news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the transaction, the director now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the firm’s stock in a transaction dated 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. 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.

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.