Van ECK Associates Corp grew its position in shares of Coupang, Inc. (NYSE:CPNG – Free Report) by 63.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,251 shares of the company’s stock after purchasing an additional 484 shares during the quarter. Van ECK Associates Corp’s holdings in Coupang were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. 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. 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. Wolff Wiese Magana LLC grew its position 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 valued at $41,000 after purchasing an additional 1,295 shares in the last quarter. 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. Finally, Opal Wealth Advisors LLC purchased a new stake in Coupang during the 2nd quarter worth about $74,000. Institutional investors own 83.72% of the company’s stock.
Insiders Place Their Bets
In other news, Director Benjamin Sun sold 200,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.36, for a total value of $4,672,000.00. Following the completion of the sale, the director now owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. This represents a 9.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greenoaks Capital Partners Llc bought 100,000 shares of Coupang stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $22.95 per share, for a total transaction of $2,295,000.00. Following the acquisition, the director now owns 50,476,224 shares in the company, valued at $1,158,429,340.80. The trade was a 0.20 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,537,700 shares of company stock valued at $36,862,316 and sold 15,200,956 shares valued at $349,245,164. Corporate insiders own 13.60% of the company’s stock.
Coupang Trading Down 2.2 %
Coupang (NYSE:CPNG – Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The company 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%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. Analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently weighed in on CPNG. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and upped their price target for the company 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 target price on the stock in a report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.
View Our Latest Stock Analysis on Coupang
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.
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