Coupang, Inc. (NYSE:CPNG) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 97.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,357 shares of the company’s stock after selling 1,009,385 shares during the period. Los Angeles Capital Management LLC’s holdings in Coupang were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Asset Dedication LLC increased its holdings in shares of Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after purchasing an additional 990 shares during the period. Van ECK Associates Corp grew its position in Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after buying an additional 484 shares in the last quarter. GAMMA Investing LLC increased its stake in Coupang by 308.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after buying an additional 1,470 shares during the period. Wolff Wiese Magana LLC raised its position in shares of Coupang by 330.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after buying an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Coupang by 438.9% in the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after acquiring an additional 1,931 shares during the period. 83.72% of the stock is owned by institutional investors.

Insider Activity

In other Coupang news, CEO Bom Kim sold 15,000,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,000,000 shares in the company, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Greenoaks Capital Partners Llc bought 100,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average price of $22.95 per share, for a total transaction of $2,295,000.00. Following the acquisition, the director now directly owns 50,476,224 shares in the company, valued at $1,158,429,340.80. This trade represents a 0.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,537,700 shares of company stock worth $36,862,316 and have sold 15,200,956 shares worth $349,245,164. 13.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Coupang Stock Performance

Shares of NYSE CPNG opened at $24.48 on Friday. The stock’s fifty day simple moving average is $24.90 and its 200 day simple moving average is $22.90. The stock has a market capitalization of $43.91 billion, a price-to-earnings ratio of 42.95, a PEG ratio of 233.12 and a beta of 1.10. 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 52-week low of $13.51 and a 52-week high of $26.91.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter last year, the business posted $0.05 EPS. Coupang’s revenue was up 27.2% on a year-over-year basis. As a group, sell-side analysts forecast 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.