HighTower Advisors LLC Has $5.59 Million Stock Position in Coupang, Inc. (NYSE:CPNG)

HighTower Advisors LLC lessened its holdings in Coupang, Inc. (NYSE:CPNG) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 227,941 shares of the company’s stock after selling 1,725 shares during the quarter. HighTower Advisors LLC’s holdings in Coupang were worth $5,585,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CPNG. Plotkin Financial Advisors LLC bought a new stake in shares of Coupang during the 3rd quarter valued at approximately $491,000. Fred Alger Management LLC acquired a new stake in Coupang in the third quarter valued at approximately $29,184,000. Verition Fund Management LLC grew its stake in shares of Coupang by 96.6% during the third quarter. Verition Fund Management LLC now owns 121,205 shares of the company’s stock worth $2,976,000 after buying an additional 59,561 shares during the last quarter. Skye Global Management LP acquired a new position in shares of Coupang during the third quarter worth $15,025,000. Finally, Martingale Asset Management L P lifted its stake in shares of Coupang by 22.7% in the 3rd quarter. Martingale Asset Management L P now owns 46,276 shares of the company’s stock valued at $1,136,000 after acquiring an additional 8,566 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Activity at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc bought 687,700 shares of the stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the acquisition, the director now owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This trade represents a 1.32 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Bom Kim sold 15,000,000 shares of the business’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 directly owns 2,000,000 shares in the company, valued at approximately $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 owned by company insiders.

Coupang Price Performance

Coupang stock opened at $23.72 on Wednesday. The stock’s 50 day moving average is $25.00 and its 200 day moving average is $23.11. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91. The firm has a market cap of $42.67 billion, a P/E ratio of 41.11, a P/E/G ratio of 215.12 and a beta of 1.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

Coupang (NYSE:CPNG) last issued its quarterly earnings results 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. 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 quarter in the previous year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. As a group, research analysts expect that Coupang, Inc. will post 0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPNG. CLSA raised Coupang from a “hold” rating to an “outperform” rating and upped their target price for the stock 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 target on the stock in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

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.