Coupang, Inc. (NYSE:CPNG) Shares Sold by Deepwater Asset Management LLC

Deepwater Asset Management LLC decreased its holdings in Coupang, Inc. (NYSE:CPNG) by 12.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 583,383 shares of the company’s stock after selling 81,537 shares during the quarter. Coupang makes up 5.0% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. Deepwater Asset Management LLC’s holdings in Coupang were worth $14,322,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Bleakley Financial Group LLC increased its stake in shares of Coupang by 17.9% in the first quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock valued at $318,000 after buying an additional 2,710 shares during the period. Handelsbanken Fonder AB raised its holdings in Coupang by 2.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock worth $21,706,000 after purchasing an additional 24,553 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Coupang by 5.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,237,250 shares of the company’s stock worth $39,801,000 after purchasing an additional 110,700 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Coupang by 55.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock valued at $94,799,000 after purchasing an additional 1,615,448 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in Coupang by 767.9% during the first quarter. GSA Capital Partners LLP now owns 108,990 shares of the company’s stock worth $1,939,000 after buying an additional 96,432 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CPNG has been the topic of a number of research analyst reports. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and upped their price target for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein upgraded 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 research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.56.

Coupang Stock Performance

Shares of CPNG stock opened at $25.97 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $24.15 and a two-hundred day simple moving average of $22.62. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $26.28. The firm has a market capitalization of $46.43 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 282.07 and a beta of 1.11.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The firm’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 EPS. Analysts forecast that Coupang, Inc. will post 0.09 EPS for the current fiscal year.

Insider Activity at Coupang

In other Coupang news, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares in the company, valued at approximately $3,390,084.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coupang news, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total transaction of $207,596.80. Following the transaction, the insider now owns 170,356 shares of the company’s stock, valued at $3,390,084.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin Sun sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.36, for a total value of $4,672,000.00. Following the completion of the transaction, the director now directly owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 601,300 shares of company stock valued at $13,604,354 and have sold 411,388 shares valued at $9,452,761. 13.60% of the stock is owned by insiders.

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.