Point72 DIFC Ltd Takes Position in Coupang, Inc. (NYSE:CPNG)

Point72 DIFC Ltd purchased a new position in Coupang, Inc. (NYSE:CPNG) during the third quarter, Holdings Channel.com reports. The fund purchased 24,995 shares of the company’s stock, valued at approximately $614,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its stake 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 buying an additional 1,470 shares during the period. CWM LLC raised its stake in Coupang by 1.9% in the 2nd quarter. CWM LLC now owns 134,844 shares of the company’s stock valued at $2,825,000 after acquiring an additional 2,481 shares during the period. Opal Wealth Advisors LLC purchased a new stake in Coupang during the second quarter valued at about $74,000. SG Americas Securities LLC bought a new position in Coupang during the second quarter worth about $175,000. Finally, Ignite Planners LLC increased its stake in shares of Coupang by 10.3% in the second quarter. Ignite Planners LLC now owns 22,009 shares of the company’s stock worth $477,000 after purchasing an additional 2,050 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Coupang

In other news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was purchased at an average price of $24.01 per share, with a total value of $18,007,500.00. Following the completion of the purchase, the director now directly owns 52,038,723 shares in the company, valued at approximately $1,249,449,739.23. This trade represents a 1.46 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total value of $344,550,000.00. Following the completion of the transaction, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is owned by insiders.

Coupang Stock Up 0.7 %

Shares of NYSE:CPNG opened at $24.03 on Friday. The company has a market cap of $43.23 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 215.30 and a beta of 1.07. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91. The firm has a fifty day moving average price of $25.06 and a two-hundred day moving average price of $23.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The company had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. Analysts anticipate that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

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.