Krane Funds Advisors LLC Cuts Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Krane Funds Advisors LLC cut its stake in shares of Coupang, Inc. (NYSE:CPNG) by 14.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,385 shares of the company’s stock after selling 2,649 shares during the period. Krane Funds Advisors LLC’s holdings in Coupang were worth $378,000 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 company. Baillie Gifford & Co. lifted its stake in shares of Coupang by 1.6% in the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock valued at $3,589,783,000 after purchasing an additional 2,749,027 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Coupang by 31.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock worth $1,403,015,000 after acquiring an additional 18,894,909 shares in the last quarter. Kontiki Capital Management HK Ltd. raised its stake in shares of Coupang by 1.9% in the 1st quarter. Kontiki Capital Management HK Ltd. now owns 8,693,468 shares of the company’s stock valued at $154,657,000 after acquiring an additional 159,900 shares during the period. Bamco Inc. NY lifted its holdings in shares of Coupang by 9.6% during the 1st quarter. Bamco Inc. NY now owns 7,942,062 shares of the company’s stock valued at $141,289,000 after acquiring an additional 693,898 shares in the last quarter. Finally, Dorsal Capital Management LP boosted 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 worth $125,700,000 after purchasing an additional 1,250,000 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coupang

In related news, insider Pranam Kolari sold 10,432 shares of the firm’s 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Greenoaks Capital Partners Llc acquired 150,000 shares of the 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 completion of the purchase, the director now owns 49,874,924 shares in the company, valued at approximately $1,129,168,279.36. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the insider now owns 170,356 shares in the company, valued at $3,390,084.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 601,300 shares of company stock valued at $13,604,354 and sold 411,388 shares valued at $9,452,761. 13.60% of the stock is currently owned by insiders.

Coupang Stock Down 1.1 %

Shares of CPNG stock opened at $24.77 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12. The stock has a market cap of $44.29 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 282.07 and a beta of 1.11. The business’s fifty day moving average is $23.86 and its 200-day moving average is $22.38. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.28.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on CPNG shares. CLSA raised Coupang from a “hold” rating to an “outperform” rating and boosted their price target for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Morgan Stanley boosted their target price on shares of Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Finally, Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Monday, October 7th. 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, Coupang presently has a consensus rating of “Moderate Buy” and a consensus 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.