Coupang, Inc. (NYSE:CPNG) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 10.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,265 shares of the company’s stock after buying an additional 1,082 shares during the period. Oppenheimer & Co. Inc.’s holdings in Coupang were worth $277,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in shares of Coupang by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 112,567 shares of the company’s stock valued at $2,764,000 after buying an additional 1,024 shares during the period. RMR Capital Management LLC grew its position in Coupang by 33.6% in the third quarter. RMR Capital Management LLC now owns 21,592 shares of the company’s stock valued at $530,000 after acquiring an additional 5,435 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Coupang during the third quarter valued at approximately $266,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Coupang by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 374,807 shares of the company’s stock worth $9,202,000 after purchasing an additional 1,135 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Coupang by 25.6% in the third quarter. GSA Capital Partners LLP now owns 93,676 shares of the company’s stock valued at $2,300,000 after purchasing an additional 19,095 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Price Performance

Shares of NYSE:CPNG opened at $24.36 on Friday. The business has a fifty day simple moving average of $24.99 and a 200 day simple moving average of $22.94. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The firm has a market cap of $43.81 billion, a price-to-earnings ratio of 42.73, a P/E/G ratio of 217.73 and a beta of 1.10.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on CPNG. Sanford C. Bernstein upgraded shares of 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. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and boosted their price target for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Coupang currently has an average rating of “Moderate Buy” and an average price target of $27.56.

Insiders Place Their Bets

In other news, CEO Bom Kim sold 15,000,000 shares of the company’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 sale, the chief executive officer now directly owns 2,000,000 shares in the company, valued at approximately $45,940,000. This represents a 88.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Greenoaks Capital Partners Llc acquired 750,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $24.01 per share, with a total value of $18,007,500.00. Following the completion of the acquisition, the director now owns 52,038,723 shares of the company’s stock, valued at approximately $1,249,449,739.23. This trade represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 13.60% of the company’s stock.

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.