FORA Capital LLC Buys 9,920 Shares of Coupang, Inc. (NYSE:CPNG)

FORA Capital LLC lifted its position in Coupang, Inc. (NYSE:CPNG) by 31.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,934 shares of the company’s stock after acquiring an additional 9,920 shares during the quarter. FORA Capital LLC’s holdings in Coupang were worth $1,029,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. grew its position in Coupang by 1.6% in the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after purchasing an additional 2,749,027 shares in the last quarter. FMR LLC boosted its stake in shares of Coupang by 32.0% in the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after buying an additional 6,584,910 shares during the last quarter. Dorsal Capital Management LP grew its holdings in shares of Coupang by 26.3% in the second quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $125,700,000 after acquiring an additional 1,250,000 shares in the last quarter. Coronation Fund Managers Ltd. lifted its holdings in Coupang by 139.1% during the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after acquiring an additional 2,802,325 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Coupang by 55.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after purchasing an additional 1,615,448 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

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

Coupang Trading Up 1.0 %

NYSE:CPNG opened at $25.47 on Friday. The company has a market cap of $45.82 billion, a P/E ratio of 44.68, a P/E/G ratio of 225.02 and a beta of 1.10. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The stock’s fifty day moving average price is $25.06 and its two-hundred day moving average price is $23.01.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating 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 business had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the previous year, the firm earned $0.05 EPS. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, analysts expect that Coupang, Inc. will post 0.11 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Bom Kim sold 15,000,000 shares of Coupang 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 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 can be accessed through this link. Also, Director Greenoaks Capital Partners Llc acquired 750,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the completion of the transaction, the director now owns 52,038,723 shares of the company’s stock, valued at $1,249,449,739.23. The trade was a 1.46 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company’s stock.

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.