Coupang, Inc. (NYSE:CPNG) Holdings Lowered by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC trimmed its stake in shares of Coupang, Inc. (NYSE:CPNG) by 2.9% during the third quarter, Holdings Channel reports. The institutional investor owned 16,760 shares of the company’s stock after selling 500 shares during the period. Hobbs Group Advisors LLC’s holdings in Coupang were worth $389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPNG. FMR LLC grew its stake in shares of Coupang by 32.0% in the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after purchasing an additional 6,584,910 shares during the last quarter. Coronation Fund Managers Ltd. grew its stake in shares of Coupang by 139.1% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after purchasing an additional 2,802,325 shares during the last quarter. Baillie Gifford & Co. grew its stake 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 during the last quarter. Wellington Management Group LLP grew its stake in shares of Coupang by 43.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock worth $211,868,000 after purchasing an additional 2,603,046 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Coupang by 762.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock worth $68,710,000 after purchasing an additional 2,474,175 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Coupang Stock Performance

Shares of CPNG opened at $23.72 on Wednesday. The company’s 50 day moving average price is $24.99 and its 200 day moving average price is $23.12. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91. The company has a market capitalization of $42.67 billion, a PE ratio of 41.61, a PEG ratio of 215.12 and a beta of 1.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue was up 27.2% on a year-over-year basis. Research analysts expect that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CPNG has been the topic of several analyst reports. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Insider Activity at Coupang

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

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.