Acadian Asset Management LLC Sells 739 Shares of Coupang, Inc. (NYSE:CPNG)

Acadian Asset Management LLC lowered its position in shares of Coupang, Inc. (NYSE:CPNG) by 13.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,842 shares of the company’s stock after selling 739 shares during the period. Acadian Asset Management LLC’s holdings in Coupang were worth $101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPNG. GAMMA Investing LLC grew its holdings in shares of Coupang by 308.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after purchasing an additional 1,470 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of Coupang in the first quarter worth about $50,000. Opal Wealth Advisors LLC bought a new stake in shares of Coupang in the 2nd quarter valued at about $74,000. V Square Quantitative Management LLC purchased a new stake in Coupang during the 2nd quarter valued at about $89,000. Finally, WASHINGTON TRUST Co bought a new position in Coupang during the 2nd quarter worth approximately $117,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley boosted their price objective on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and upped their price target for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Insider Buying and Selling at Coupang

In other news, Director Greenoaks Capital Partners Llc bought 251,300 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average price of $22.58 per share, with a total value of $5,674,354.00. Following the transaction, the director now owns 50,126,224 shares of the company’s stock, valued at $1,131,850,137.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Coupang news, Director Greenoaks Capital Partners Llc purchased 251,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of $22.58 per share, for a total transaction of $5,674,354.00. Following the purchase, the director now directly owns 50,126,224 shares in the company, valued at $1,131,850,137.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gaurav Anand sold 200,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $22.75, for a total transaction of $4,550,000.00. Following the sale, the chief financial officer now directly owns 1,937,500 shares in the company, valued at approximately $44,078,125. The disclosure for this sale can be found here. In the last three months, insiders have bought 601,300 shares of company stock valued at $13,604,354 and have sold 410,432 shares valued at $9,429,597. Insiders own 13.60% of the company’s stock.

Coupang Stock Performance

NYSE:CPNG opened at $24.58 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The firm’s fifty day simple moving average is $22.08 and its 200 day simple moving average is $21.34. The stock has a market cap of $43.95 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 171.76 and a beta of 1.10. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $24.74.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.39 billion. During the same quarter in the previous year, the firm posted $0.08 EPS. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, research analysts predict that Coupang, Inc. will post 0.14 EPS for the current year.

Coupang Company 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.