Virtu Financial LLC purchased a new stake in shares of Coupang, Inc. (NYSE:CPNG – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,815 shares of the company’s stock, valued at approximately $314,000.
Several other large investors have also added to or reduced their stakes in CPNG. Price T Rowe Associates Inc. MD lifted its holdings in Coupang by 14.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 47,947,638 shares of the company’s stock valued at $611,332,000 after purchasing an additional 5,919,724 shares in the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Coupang by 86.0% in the second quarter. Coronation Fund Managers Ltd. now owns 5,593,272 shares of the company’s stock worth $71,314,000 after buying an additional 2,586,039 shares in the last quarter. Scge Management L.P. lifted its holdings in shares of Coupang by 79.5% in the second quarter. Scge Management L.P. now owns 3,846,000 shares of the company’s stock worth $49,037,000 after buying an additional 1,703,143 shares in the last quarter. Ardevora Asset Management LLP purchased a new position in shares of Coupang in the third quarter worth $27,067,000. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Coupang by 151.3% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,106,111 shares of the company’s stock worth $26,853,000 after buying an additional 1,268,034 shares in the last quarter. Hedge funds and other institutional investors own 71.56% of the company’s stock.
Insider Buying and Selling at Coupang
In other news, major shareholder Svf Investments (Uk) Ltd sold 35,000,000 shares of the company’s stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $18.50, for a total value of $647,500,000.00. Following the transaction, the insider now directly owns 426,156,413 shares in the company, valued at $7,883,893,640.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Greenoaks Capital Partners Llc sold 1,250,000 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $18.14, for a total value of $22,675,000.00. Following the transaction, the director now directly owns 71,601,928 shares in the company, valued at $1,298,858,973.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 35,000,000 shares of the company’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $18.50, for a total transaction of $647,500,000.00. Following the completion of the transaction, the insider now owns 426,156,413 shares in the company, valued at $7,883,893,640.50. The disclosure for this sale can be found here. Insiders have sold 36,800,000 shares of company stock worth $680,784,835 over the last quarter. Insiders own 16.70% of the company’s stock.
Wall Street Analysts Forecast Growth
CPNG has been the topic of several research analyst reports. New Street Research started coverage on shares of Coupang in a report on Thursday, December 1st. They issued a “buy” rating and a $25.00 target price on the stock. Mizuho reduced their price target on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, November 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.61.
Coupang Trading Down 7.8 %
CPNG stock opened at $16.19 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.78. Coupang, Inc. has a twelve month low of $8.98 and a twelve month high of $27.12. The stock has a market capitalization of $28.66 billion, a price-to-earnings ratio of -47.62 and a beta of 1.34. The firm’s fifty day simple moving average is $16.80 and its two-hundred day simple moving average is $17.45.
Coupang (NYSE:CPNG – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. Coupang had a negative net margin of 2.95% and a negative return on equity of 28.35%. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.15 billion. As a group, analysts anticipate that Coupang, Inc. will post -0.07 earnings per share for the current year.
About Coupang
Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company 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.