Ignite Planners LLC Increases Position in Coupang, Inc. (NYSE:CPNG)

Ignite Planners LLC grew its stake in Coupang, Inc. (NYSE:CPNG) by 2.5% during the fourth quarter, HoldingsChannel reports. The fund owned 20,162 shares of the company’s stock after acquiring an additional 483 shares during the quarter. Ignite Planners LLC’s holdings in Coupang were worth $452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in shares of Coupang in the 3rd quarter worth $28,000. Asset Dedication LLC boosted its position in shares of Coupang by 438.1% in the 3rd 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 boosted its position in shares of Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares in the last quarter. Wolff Wiese Magana LLC boosted its position 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 worth $41,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC boosted 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 purchasing an additional 1,931 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Stock Performance

Shares of CPNG opened at $21.94 on Wednesday. The stock has a 50-day moving average of $23.59 and a two-hundred day moving average of $23.29. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The stock has a market cap of $39.47 billion, a P/E ratio of 38.49, a P/E/G ratio of 215.03 and a beta of 1.10.

Coupang (NYSE:CPNG) last issued its quarterly earnings data 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. The business had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. As a group, research analysts predict that Coupang, Inc. will post 0.11 EPS for the current year.

Insider Activity

In other news, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at $45,940,000. The trade was a 88.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $24.08 per share, with a total value of $16,559,816.00. Following the acquisition, the director now owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. This trade represents a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CPNG. Citigroup lowered their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coupang has an average rating of “Moderate Buy” and an average target price of $27.56.

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.