Jacobs Levy Equity Management Inc. Increases Stake in Coupang, Inc. (NYSE:CPNG)

Jacobs Levy Equity Management Inc. raised its position in Coupang, Inc. (NYSE:CPNG) by 762.2% in the 3rd quarter, Holdings Channel reports. The fund owned 2,798,782 shares of the company’s stock after purchasing an additional 2,474,175 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Coupang were worth $68,710,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Coupang by 32.0% during the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after acquiring an additional 6,584,910 shares in the last quarter. Coronation Fund Managers Ltd. lifted its stake in Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after buying an additional 2,802,325 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after acquiring an additional 2,749,027 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Coupang by 2,570.0% during the second quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock valued at $42,931,000 after purchasing an additional 1,972,476 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Coupang by 55.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock valued at $94,799,000 after buying an additional 1,615,448 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Coupang Trading Down 2.1 %

NYSE:CPNG opened at $24.84 on Tuesday. The business has a fifty day moving average of $25.10 and a 200-day moving average of $23.06. The stock has a market cap of $44.68 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 228.26 and a beta of 1.07. 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, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, November 5th. The company reported $0.06 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 analysts’ expectations of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the firm earned $0.05 EPS. Equities analysts predict that Coupang, Inc. will post 0.11 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity

In other news, CEO Bom Kim sold 15,000,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were acquired at an average cost of $24.08 per share, with a total value of $16,559,816.00. Following 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. 13.60% of the stock is owned by company insiders.

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.