Ninety One UK Ltd Makes New Investment in Coupang, Inc. (NYSE:CPNG)

Ninety One UK Ltd acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the 4th quarter, Holdings Channel reports. The firm acquired 2,110,476 shares of the company’s stock, valued at approximately $46,388,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPNG. Brooklyn Investment Group acquired a new position in Coupang during the 3rd quarter worth approximately $28,000. Asset Dedication LLC increased its holdings in shares of Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after acquiring an additional 990 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares during the period. Berbice Capital Management LLC bought a new position in shares of Coupang in the 4th quarter worth $31,000. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after purchasing an additional 1,295 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Activity

In related news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the purchase, the director now directly owns 52,038,723 shares in the company, valued at approximately $1,249,449,739.23. This trade represents a 1.46 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 approximately $45,940,000. The trade was a 88.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,009,234 shares of company stock valued at $344,761,515 in the last ninety days. 13.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Trading Up 0.5 %

Shares of CPNG stock opened at $23.69 on Wednesday. Coupang, Inc. has a 52-week low of $13.66 and a 52-week high of $26.91. The company has a 50-day simple moving average of $23.04 and a two-hundred day simple moving average of $23.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The company has a market capitalization of $42.62 billion, a price-to-earnings ratio of 41.57, a PEG ratio of 42.58 and a beta of 1.11.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. Coupang’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. Research analysts anticipate that Coupang, Inc. will post 0.14 EPS for the current fiscal year.

Coupang Profile

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.