Bleakley Financial Group LLC Sells 1,918 Shares of Coupang, Inc. (NYSE:CPNG)

Bleakley Financial Group LLC lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 11.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,495 shares of the company’s stock after selling 1,918 shares during the quarter. Bleakley Financial Group LLC’s holdings in Coupang were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPNG. Asset Dedication LLC grew its stake in shares of Coupang by 438.1% in the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after acquiring an additional 990 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Coupang by 308.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after acquiring an additional 1,470 shares in the last quarter. Wolff Wiese Magana LLC grew its stake 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 acquiring an additional 1,295 shares in the last quarter. Register Financial Advisors LLC bought a new stake in shares of Coupang in the 1st quarter worth $50,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Coupang in the 2nd quarter worth $74,000. Institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc acquired 251,300 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of $22.58 per share, with a total value of $5,674,354.00. Following the completion of the acquisition, the director now directly owns 50,126,224 shares in the company, valued at $1,131,850,137.92. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Pranam Kolari sold 10,432 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the sale, the insider now directly owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Greenoaks Capital Partners Llc purchased 251,300 shares of the stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $22.58 per share, for a total transaction of $5,674,354.00. Following the completion of the acquisition, the director now owns 50,126,224 shares of the company’s stock, valued at approximately $1,131,850,137.92. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 601,300 shares of company stock valued at $13,604,354 and have sold 411,388 shares valued at $9,452,761. Insiders own 13.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CPNG shares. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Monday, October 7th. CLSA upgraded shares of 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 research note on Wednesday, September 4th. Finally, Morgan Stanley boosted their price target on shares of Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. One 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Price Performance

NYSE CPNG opened at $24.98 on Wednesday. The company has a market cap of $44.66 billion, a PE ratio of 35.69, a price-to-earnings-growth ratio of 282.07 and a beta of 1.11. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.28. 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 50-day simple moving average is $23.86 and its two-hundred day simple moving average is $22.38.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The business had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. Research analysts predict that Coupang, Inc. will post 0.09 earnings per share for the current year.

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.