Los Angeles Capital Management LLC Purchases New Holdings in Coupang, Inc. $CPNG

Los Angeles Capital Management LLC purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the second quarter, Holdings Channel reports. The institutional investor purchased 193,606 shares of the company’s stock, valued at approximately $5,800,000.

A number of other institutional investors have also recently bought and sold shares of CPNG. Altimeter Capital Management LP raised its position in shares of Coupang by 24.3% in the first quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company’s stock valued at $163,191,000 after purchasing an additional 1,455,555 shares during the period. Bain Capital Public Equity Management II LLC grew its stake in Coupang by 39.4% in the 1st quarter. Bain Capital Public Equity Management II LLC now owns 1,467,232 shares of the company’s stock valued at $32,176,000 after buying an additional 414,901 shares in the last quarter. Dark Forest Capital Management LP grew its stake in Coupang by 460.8% in the 1st quarter. Dark Forest Capital Management LP now owns 185,182 shares of the company’s stock valued at $4,061,000 after buying an additional 152,161 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Coupang by 20.0% during the 1st quarter. Raymond James Financial Inc. now owns 1,320,777 shares of the company’s stock valued at $28,965,000 after acquiring an additional 220,513 shares during the period. Finally, 3G Capital Partners LP lifted its position in shares of Coupang by 12.5% during the first quarter. 3G Capital Partners LP now owns 1,350,000 shares of the company’s stock worth $29,606,000 after acquiring an additional 150,000 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of CPNG opened at $28.90 on Monday. Coupang, Inc. has a 12-month low of $19.02 and a 12-month high of $34.08. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13. The company has a market cap of $52.69 billion, a PE ratio of 137.64 and a beta of 1.17. The stock has a 50-day moving average price of $31.61 and a 200-day moving average price of $29.45.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The firm had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.13 billion. During the same quarter last year, the company posted $0.06 EPS. The business’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CPNG. Arete Research assumed coverage on Coupang in a research report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a report on Wednesday, October 8th. Nomura Securities raised shares of Coupang to a “strong-buy” rating in a report on Wednesday, August 6th. Zacks Research upgraded shares of Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Bank of America upped their target price on shares of Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.56.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 11,653 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $31.98, for a total transaction of $372,662.94. Following the transaction, the vice president directly owned 147,023 shares of the company’s stock, valued at approximately $4,701,795.54. This trade represents a 7.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Harold Rogers sold 64,755 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total value of $2,076,045.30. Following the completion of the sale, the insider directly owned 449,569 shares of the company’s stock, valued at approximately $14,413,182.14. This represents a 12.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 913,633 shares of company stock valued at $29,143,084. 12.78% of the stock is currently owned by corporate insiders.

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.