Alpine Global Management LLC Has $178,000 Holdings in Coupang, Inc. (NYSE:CPNG)

Alpine Global Management LLC lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 21.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the company’s stock after selling 2,800 shares during the period. Alpine Global Management LLC’s holdings in Coupang were worth $178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Baillie Gifford & Co. boosted its position in shares of Coupang by 15.9% during the 1st quarter. Baillie Gifford & Co. now owns 168,600,998 shares of the company’s stock worth $2,999,412,000 after acquiring an additional 23,076,870 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of Coupang by 2,250.9% during the 1st quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock worth $799,242,000 after acquiring an additional 43,015,433 shares in the last quarter. Norges Bank acquired a new stake in shares of Coupang during the 4th quarter worth approximately $250,714,000. Sands Capital Management LLC boosted its position in shares of Coupang by 0.7% during the 4th quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock worth $233,793,000 after acquiring an additional 98,043 shares in the last quarter. Finally, Foxhaven Asset Management LP lifted its stake in Coupang by 8.0% in the 4th quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock valued at $198,690,000 after purchasing an additional 904,065 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other Coupang news, insider Pranam Kolari sold 2,048 shares of Coupang stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the sale, the insider now directly owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Jonathan D. Lee sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $21.45, for a total transaction of $107,250.00. Following the completion of the sale, the chief accounting officer now directly owns 120,835 shares of the company’s stock, valued at $2,591,910.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total transaction of $45,752.32. Following the completion of the sale, the insider now directly owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 753,538 shares of company stock valued at $15,662,818. Corporate insiders own 13.60% of the company’s stock.

Coupang Trading Up 2.0 %

Shares of CPNG stock traded up $0.39 during trading hours on Friday, hitting $20.18. 9,692,080 shares of the company’s stock traded hands, compared to its average volume of 5,708,531. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $23.77. The stock’s 50 day simple moving average is $21.49 and its 200 day simple moving average is $19.44. The stock has a market cap of $36.08 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 1,998.02 and a beta of 1.09. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.67.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coupang had a net margin of 4.96% and a return on equity of 13.59%. The firm had revenue of $7.11 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same quarter in the previous year, the firm earned $0.05 EPS. Coupang’s quarterly revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts anticipate that Coupang, Inc. will post 0.01 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on CPNG shares. Mizuho increased their price objective on shares of Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Citigroup increased their price objective on shares of Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Morgan Stanley increased their price objective on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. UBS Group raised shares of Coupang from a “neutral” rating to a “buy” rating and increased their price objective for the company from $18.50 to $26.00 in a research note on Thursday, May 16th. Finally, Barclays increased their price objective on shares of Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.71.

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.