Point72 DIFC Ltd Takes Position in Coupang, Inc. (NYSE:CPNG)

Point72 DIFC Ltd acquired a new position in Coupang, Inc. (NYSE:CPNG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 24,995 shares of the company’s stock, valued at approximately $614,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Motley Fool Asset Management LLC lifted its holdings in Coupang by 3.9% in the third quarter. Motley Fool Asset Management LLC now owns 72,190 shares of the company’s stock valued at $1,764,000 after buying an additional 2,718 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Coupang by 762.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock worth $68,710,000 after acquiring an additional 2,474,175 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Coupang by 2.2% in the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock valued at $850,000 after purchasing an additional 747 shares during the period. Plotkin Financial Advisors LLC bought a new stake in shares of Coupang during the 3rd quarter valued at about $491,000. Finally, Fred Alger Management LLC acquired a new stake in Coupang during the third quarter worth approximately $29,184,000. 83.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CPNG has been the topic of several recent analyst reports. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, October 7th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Insider Buying and Selling at Coupang

In other news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was purchased at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the purchase, the director now owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. This represents a 1.32 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the business’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 value 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 $45,940,000. The trade was a 88.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

Coupang Stock Performance

NYSE CPNG opened at $24.03 on Friday. The company has a market cap of $43.23 billion, a P/E ratio of 42.16, a PEG ratio of 215.30 and a beta of 1.07. The company has a fifty day simple moving average of $25.06 and a 200 day simple moving average of $23.09. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same period last year, the company earned $0.05 earnings per share. The business’s revenue was up 27.2% on a year-over-year basis. Sell-side analysts predict that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

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.