Greenwood Capital Associates LLC Cuts Position in Coupang, Inc. (NYSE:CPNG)

Greenwood Capital Associates LLC decreased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 95.2% in the third quarter, Holdings Channel.com reports. The firm owned 8,273 shares of the company’s stock after selling 165,226 shares during the period. Greenwood Capital Associates LLC’s holdings in Coupang were worth $203,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CPNG. Baillie Gifford & Co. boosted its holdings in Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after acquiring an additional 2,749,027 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Coupang by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock worth $1,403,015,000 after purchasing an additional 18,894,909 shares during the last quarter. Kontiki Capital Management HK Ltd. boosted its stake in Coupang by 1.9% in the 1st quarter. Kontiki Capital Management HK Ltd. now owns 8,693,468 shares of the company’s stock worth $154,657,000 after purchasing an additional 159,900 shares in the last quarter. Bamco Inc. NY boosted its stake in Coupang by 9.6% in the 1st quarter. Bamco Inc. NY now owns 7,942,062 shares of the company’s stock worth $141,289,000 after purchasing an additional 693,898 shares in the last quarter. Finally, Dorsal Capital Management LP grew its position in Coupang by 26.3% during the 2nd quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $125,700,000 after purchasing an additional 1,250,000 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc purchased 150,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $22.64 per share, for a total transaction of $3,396,000.00. Following the purchase, the director now directly owns 49,874,924 shares of the company’s stock, valued at $1,129,168,279.36. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coupang news, CFO Gaurav Anand sold 200,000 shares of Coupang stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $22.75, for a total transaction of $4,550,000.00. Following the transaction, the chief financial officer now owns 1,937,500 shares of the company’s stock, valued at $44,078,125. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 150,000 shares of Coupang stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $22.64 per share, with a total value of $3,396,000.00. Following the completion of the purchase, the director now owns 49,874,924 shares of the company’s stock, valued at approximately $1,129,168,279.36. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 601,300 shares of company stock worth $13,604,354 and sold 400,956 shares worth $9,245,164. 13.60% of the stock is currently owned by company insiders.

Coupang Stock Performance

Shares of CPNG opened at $26.89 on Wednesday. The firm has a market capitalization of $48.23 billion, a P/E ratio of 46.36 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91. The business has a fifty day moving average of $24.45 and a 200 day moving average of $22.75.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The firm had revenue of $7.32 billion during 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 business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 EPS. As a group, sell-side analysts anticipate that Coupang, Inc. will post -0.03 EPS for the current year.

Analysts Set New Price Targets

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