SG Americas Securities LLC Increases Holdings in Coupang, Inc. (NYSE:CPNG)

SG Americas Securities LLC increased its position in Coupang, Inc. (NYSE:CPNG) by 1,053.7% during the 4th quarter, Holdings Channel reports. The firm owned 407,940 shares of the company’s stock after acquiring an additional 372,581 shares during the quarter. SG Americas Securities LLC’s holdings in Coupang were worth $8,967,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CPNG. FMR LLC grew its position in shares of Coupang by 32.0% during the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after buying an additional 6,584,910 shares in the last quarter. Coronation Fund Managers Ltd. grew its holdings in 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 acquiring an additional 2,802,325 shares in the last quarter. Wellington Management Group LLP increased its position in Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after purchasing an additional 2,603,046 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Coupang by 762.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock valued at $68,710,000 after purchasing an additional 2,474,175 shares in the last quarter. Finally, Dorsal Capital Management LP lifted its position in shares of Coupang by 26.3% in the 2nd quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock worth $125,700,000 after purchasing an additional 1,250,000 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at approximately $45,940,000. This represents a 88.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greenoaks Capital Partners Llc purchased 687,700 shares of Coupang stock in a transaction on Monday, November 11th. The shares were acquired at an average cost of $24.08 per share, with a total value of $16,559,816.00. Following the completion of the transaction, the director now directly owns 52,726,423 shares in the company, valued at $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 Trading Down 1.1 %

Shares of NYSE:CPNG opened at $22.00 on Friday. The business’s 50-day moving average is $23.23 and its 200 day moving average is $23.31. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The firm has a market capitalization of $39.58 billion, a P/E ratio of 38.60, a P/E/G ratio of 38.77 and a beta of 1.10.

Coupang (NYSE:CPNG) last posted 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 firm had revenue of $7.87 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $0.05 earnings per share. On average, research analysts predict that Coupang, Inc. will post 0.14 earnings per share for the current fiscal year.

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.