Penserra Capital Management LLC Reduces Position in Coupang, Inc. (NYSE:CPNG)

Penserra Capital Management LLC lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 22.2% in the third quarter, Holdings Channel.com reports. The firm owned 619,635 shares of the company’s stock after selling 176,424 shares during the period. Penserra Capital Management LLC’s holdings in Coupang were worth $15,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of CPNG. Asset Dedication LLC boosted its holdings in Coupang by 438.1% in the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after buying an additional 990 shares during the period. Van ECK Associates Corp lifted its position in shares of Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after acquiring an additional 484 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in shares of Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after acquiring an additional 1,295 shares during the period. GAMMA Investing LLC grew its position in shares of Coupang by 308.2% in the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Coupang by 438.9% during the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after purchasing an additional 1,931 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Up 1.3 %

Shares of NYSE CPNG opened at $24.32 on Friday. 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 business has a 50-day moving average of $24.99 and a 200-day moving average of $22.94. The firm has a market capitalization of $43.75 billion, a price-to-earnings ratio of 42.67, a PEG ratio of 216.02 and a beta of 1.10. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $26.91.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $7.87 billion during 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%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. Sell-side analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Activity at Coupang

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

Analyst Ratings Changes

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