Fred Alger Management LLC Has $2.14 Million Holdings in Coupang, Inc. (NYSE:CPNG)

Fred Alger Management LLC trimmed its position in shares of Coupang, Inc. (NYSE:CPNG) by 91.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 97,272 shares of the company’s stock after selling 1,091,490 shares during the period. Fred Alger Management LLC’s holdings in Coupang were worth $2,138,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CPNG. Harbour Capital Advisors LLC increased its position in Coupang by 21.0% during the fourth quarter. Harbour Capital Advisors LLC now owns 28,650 shares of the company’s stock worth $642,000 after buying an additional 4,975 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of Coupang by 2.7% during the 4th quarter. 180 Wealth Advisors LLC now owns 33,683 shares of the company’s stock valued at $740,000 after acquiring an additional 896 shares during the last quarter. Ignite Planners LLC raised its stake in shares of Coupang by 2.5% in the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock valued at $452,000 after acquiring an additional 483 shares in the last quarter. Oak Thistle LLC acquired a new stake in Coupang in the 4th quarter worth approximately $1,651,000. Finally, Assenagon Asset Management S.A. boosted its position in Coupang by 85.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock worth $24,182,000 after purchasing an additional 506,622 shares during the period. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Up 1.4 %

Shares of CPNG opened at $26.00 on Friday. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $27.03. The firm has a market capitalization of $46.94 billion, a P/E ratio of 45.61, a P/E/G ratio of 52.20 and a beta of 1.08. The company has a 50-day simple moving average of $22.62 and a 200-day simple moving average of $23.43. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.02 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities research analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Activity

In other news, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the transaction, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Pranam Kolari sold 9,347 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total value of $222,925.95. Following the sale, the vice president now owns 177,106 shares in the company, valued at approximately $4,223,978.10. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. Mizuho raised shares of Coupang to a “hold” rating in a research report on Friday, April 18th. Finally, Barclays lifted their price objective on Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.19.

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.