Bamco Inc. NY Sells 598,815 Shares of Coupang, Inc. (NYSE:CPNG)

Bamco Inc. NY cut its stake in shares of Coupang, Inc. (NYSE:CPNG) by 8.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,793,580 shares of the company’s stock after selling 598,815 shares during the period. Bamco Inc. NY’s holdings in Coupang were worth $166,782,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in shares of 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 Coupang by 32.0% in the third 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 in the last quarter. Dorsal Capital Management LP grew its position in Coupang by 26.3% during 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 during the last quarter. Coronation Fund Managers Ltd. grew its position in Coupang by 139.1% during the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after acquiring an additional 2,802,325 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Coupang by 55.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after acquiring an additional 1,615,448 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insider Activity at Coupang

In other news, CEO Bom Kim sold 15,000,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $22.97, for a total value of $344,550,000.00. Following the completion of the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at $45,940,000. This trade represents a 88.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the transaction, the director now directly owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. This represents a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CPNG shares. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and increased their target price for the company from $18.00 to $31.00 in a report 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 report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.56.

Coupang Stock Performance

Coupang stock opened at $25.36 on Monday. 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 firm has a market cap of $45.62 billion, a P/E ratio of 44.49, a P/E/G ratio of 228.26 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 firm has a 50-day moving average of $25.10 and a 200-day moving average of $23.06.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping 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 firm had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same period last year, the company earned $0.05 EPS. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. Sell-side analysts expect that Coupang, Inc. will post 0.11 EPS for the current year.

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.