Coupang, Inc. (NYSE:CPNG) Position Increased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. boosted its position in Coupang, Inc. (NYSE:CPNG) by 762.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,798,782 shares of the company’s stock after buying an additional 2,474,175 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.16% of Coupang worth $68,710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CPNG. GAMMA Investing LLC grew its holdings in Coupang by 308.2% during 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 during the period. CWM LLC grew its stake in Coupang by 1.9% during the second quarter. CWM LLC now owns 134,844 shares of the company’s stock worth $2,825,000 after buying an additional 2,481 shares in the last quarter. Sax Wealth Advisors LLC grew its position in Coupang by 2.2% during the 2nd quarter. Sax Wealth Advisors LLC now owns 65,023 shares of the company’s stock worth $1,362,000 after acquiring an additional 1,370 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Coupang in the 2nd quarter valued at about $74,000. Finally, SG Americas Securities LLC acquired a new position in Coupang during the 2nd quarter worth approximately $175,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Trading Down 2.1 %

Shares of CPNG opened at $24.84 on Tuesday. The firm has a market capitalization of $44.68 billion, a price-to-earnings ratio of 43.58, a P/E/G ratio of 228.26 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 1.13 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. The stock’s 50-day moving average price is $25.10 and its 200 day moving average price is $23.06.

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

Insider Activity

In other news, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the stock in a transaction dated 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 completion of the acquisition, the director now directly 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 disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and increased their price objective for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein raised 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 equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Coupang Company 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.