D.A. Davidson & CO. Raises Stake in Coupang, Inc. (NYSE:CPNG)

D.A. Davidson & CO. increased its stake in Coupang, Inc. (NYSE:CPNG) by 5.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 121,373 shares of the company’s stock after buying an additional 5,940 shares during the quarter. D.A. Davidson & CO.’s holdings in Coupang were worth $2,980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Handelsbanken Fonder AB lifted its holdings in Coupang by 2.9% during the third quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock valued at $21,706,000 after purchasing an additional 24,553 shares during the last quarter. abrdn plc lifted its holdings in Coupang by 40.2% during the third quarter. abrdn plc now owns 202,359 shares of the company’s stock valued at $4,968,000 after purchasing an additional 58,060 shares during the last quarter. Coronation Fund Managers Ltd. lifted its holdings in Coupang by 139.1% during the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after purchasing an additional 2,802,325 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Coupang by 55.5% during the second 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, Blue Trust Inc. purchased a new stake in Coupang during the second quarter valued at about $231,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the transaction, the director now owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. This trade represents a 1.32 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.

Coupang Trading Up 1.0 %

Shares of Coupang stock opened at $25.47 on Friday. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91. The company has a market cap of $45.82 billion, a price-to-earnings ratio of 44.68, a PEG ratio of 225.02 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $25.06 and its 200-day moving average price is $23.01.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The company had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. Coupang’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. On average, equities analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CPNG shares. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a report on Monday, October 7th. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and upped their price objective for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.56.

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.