Armistice Capital LLC Makes New $8.10 Million Investment in Coupang, Inc. (NYSE:CPNG)

Armistice Capital LLC acquired a new position in Coupang, Inc. (NYSE:CPNGFree Report) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 500,000 shares of the company’s stock, valued at approximately $8,095,000.

A number of other hedge funds have also recently added to or reduced their stakes in CPNG. Baillie Gifford & Co. lifted its stake in Coupang by 21.6% in the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock valued at $2,356,036,000 after buying an additional 25,843,034 shares during the last quarter. FMR LLC raised its stake in shares of Coupang by 2.0% during the third quarter. FMR LLC now owns 19,836,006 shares of the company’s stock valued at $337,212,000 after purchasing an additional 381,964 shares in the last quarter. Norges Bank bought a new stake in shares of Coupang during the fourth quarter valued at about $250,714,000. Sands Capital Management LLC raised its stake in shares of Coupang by 0.7% during the fourth quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock valued at $233,793,000 after purchasing an additional 98,043 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Coupang by 104,032.2% during the fourth quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company’s stock valued at $177,188,000 after purchasing an additional 10,933,789 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other Coupang news, Director Hanseung Kang sold 40,000 shares of Coupang stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $23.00, for a total transaction of $920,000.00. Following the transaction, the director now owns 544,478 shares of the company’s stock, valued at approximately $12,522,994. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coupang news, Director Hanseung Kang sold 40,000 shares of Coupang stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $23.00, for a total transaction of $920,000.00. Following the transaction, the director now owns 544,478 shares of the company’s stock, valued at approximately $12,522,994. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jonathan D. Lee sold 5,000 shares of Coupang stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $21.45, for a total value of $107,250.00. Following the transaction, the chief accounting officer now directly owns 120,835 shares in the company, valued at approximately $2,591,910.75. The disclosure for this sale can be found here. Insiders have sold a total of 33,406,772 shares of company stock valued at $634,633,096 in the last 90 days. 13.60% of the stock is currently owned by corporate insiders.

Coupang Trading Down 1.1 %

Shares of CPNG opened at $21.79 on Thursday. The business’s 50-day moving average price is $21.61 and its 200 day moving average price is $18.12. The stock has a market capitalization of $38.95 billion, a P/E ratio of 31.12, a P/E/G ratio of 39.49 and a beta of 1.12. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $23.77. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67.

Coupang (NYSE:CPNGGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $6.95 billion. Coupang had a return on equity of 13.59% and a net margin of 4.96%. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 EPS. Analysts expect that Coupang, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CPNG shares. Barclays lifted their price objective on shares of Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Bank of America initiated coverage on Coupang in a report on Friday, May 3rd. They set a “buy” rating and a $30.00 target price on the stock. Mizuho lifted their target price on Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Citigroup lifted their target price on Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, TheStreet raised Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.67.

Check Out Our Latest Stock Report on Coupang

About Coupang

(Free Report)

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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Institutional Ownership by Quarter for Coupang (NYSE:CPNG)

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