Coupang, Inc. (NYSE:CPNG) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 91.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,272 shares of the company’s stock after selling 1,091,490 shares during the period. Fred Alger Management LLC’s holdings in Coupang were worth $2,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CPNG. Wingate Wealth Advisors Inc. bought a new position in shares of Coupang in the fourth quarter worth $26,000. Berbice Capital Management LLC bought a new position in Coupang in the 4th quarter valued at about $31,000. Itau Unibanco Holding S.A. increased its stake in Coupang by 520.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock valued at $43,000 after buying an additional 1,640 shares during the period. Allworth Financial LP raised its position in shares of Coupang by 11,033.3% during the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after buying an additional 1,986 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Coupang by 142.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company’s stock worth $53,000 after acquiring an additional 1,429 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPNG has been the topic of several recent analyst reports. Barclays boosted their target price on Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday. Mizuho upgraded Coupang to a “hold” rating in a report on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.19.

Insider Activity at Coupang

In related news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the sale, the director now directly owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Pranam Kolari sold 9,347 shares of Coupang stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the transaction, the vice president now directly owns 177,106 shares in the company, valued at approximately $4,223,978.10. This trade represents a 5.01 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by insiders.

Coupang Stock Performance

Shares of NYSE CPNG opened at $26.00 on Friday. The stock’s fifty day simple moving average is $22.62 and its 200 day simple moving average is $23.43. The stock has a market capitalization of $46.94 billion, a price-to-earnings ratio of 45.61, a PEG ratio of 52.20 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 52-week low of $18.16 and a 52-week high of $27.03.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. The business’s revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal 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.