Exchange Traded Concepts LLC Reduces Position in Coupang, Inc. (NYSE:CPNG)

Exchange Traded Concepts LLC lowered its stake in shares of Coupang, Inc. (NYSE:CPNG) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,289 shares of the company’s stock after selling 1,107 shares during the period. Exchange Traded Concepts LLC’s holdings in Coupang were worth $3,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in shares of Coupang during the third quarter worth about $28,000. Asset Dedication LLC boosted its position in Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after acquiring an additional 990 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in Coupang in the 4th quarter worth approximately $31,000. Van ECK Associates Corp raised its holdings 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 acquiring an additional 484 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its stake 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 purchasing an additional 1,295 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CPNG shares. 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 note on Monday, October 7th. Citigroup decreased their target price on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Trading Up 2.5 %

NYSE CPNG opened at $22.55 on Friday. The stock has a market cap of $40.57 billion, a P/E ratio of 39.56, a PEG ratio of 38.88 and a beta of 1.10. The company’s fifty day simple moving average is $23.19 and its 200-day simple moving average is $23.33. 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 52 week low of $13.51 and a 52 week high of $26.91.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The firm had revenue of $7.87 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $0.05 EPS. Equities research analysts predict that Coupang, Inc. will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $45,940,000. This represents a 88.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the completion of the purchase, the director now directly owns 52,726,423 shares of the company’s stock, 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.

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.