Penserra Capital Management LLC decreased its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 22.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 619,635 shares of the company's stock after selling 176,424 shares during the period. Penserra Capital Management LLC's holdings in Coupang were worth $15,211,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of CPNG. 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. lifted its position in shares of Coupang by 1.6% during the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company's stock valued at $3,589,783,000 after acquiring an additional 2,749,027 shares during the period. Envestnet Asset Management Inc. boosted its stake 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 worth $42,931,000 after acquiring an additional 1,972,476 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings 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 period. Finally, Dorsal Capital Management LP increased its stake in 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 purchasing an additional 1,250,000 shares in the last quarter. Institutional investors own 83.72% of the company's stock.
In related news, CEO Bom Kim sold 15,000,000 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of the company's stock in a transaction on Monday, November 11th. The stock was bought at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the purchase, the director now owns 52,726,423 shares of the company's stock, valued at approximately $1,269,652,265.84. The trade was a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.60% of the company's stock.
NYSE CPNG opened at $24.32 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $24.99 and a 200 day simple moving average of $22.94. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $26.91. The firm has a market capitalization of $43.75 billion, a P/E ratio of 42.67, a PEG ratio of 216.02 and a beta of 1.10.
Coupang (NYSE:CPNG - Get Free Report) last released its quarterly 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 net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same period last year, the firm earned $0.05 earnings per share. The firm's revenue was up 27.2% on a year-over-year basis. On average, analysts predict that Coupang, Inc. will post 0.11 EPS for the current fiscal year.
CPNG has been the topic of a number of research reports. Sanford C. Bernstein raised Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 price target on the stock in a research note on Monday, October 7th. CLSA upgraded Coupang from a "hold" rating to an "outperform" rating and increased their target price for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Coupang has a consensus rating of "Moderate Buy" and a consensus target price of $27.56.
View Our Latest Stock Report on 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.
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