Blue Trust Inc. Reduces Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Blue Trust Inc. trimmed its position in shares of Coupang, Inc. (NYSE:CPNG) by 33.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,362 shares of the company’s stock after selling 3,648 shares during the quarter. Blue Trust Inc.’s holdings in Coupang were worth $181,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Baillie Gifford & Co. increased its stake in shares of Coupang by 1.6% during the second 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Coupang by 31.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock valued at $1,403,015,000 after acquiring an additional 18,894,909 shares during the last quarter. Kontiki Capital Management HK Ltd. lifted its position in shares of Coupang by 1.9% in the first quarter. Kontiki Capital Management HK Ltd. now owns 8,693,468 shares of the company’s stock valued at $154,657,000 after acquiring an additional 159,900 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of Coupang by 9.6% in the first quarter. Bamco Inc. NY now owns 7,942,062 shares of the company’s stock worth $141,289,000 after acquiring an additional 693,898 shares during the last quarter. Finally, Dorsal Capital Management LP increased its position in shares of Coupang by 26.3% during the second quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock worth $125,700,000 after purchasing an additional 1,250,000 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

CPNG has been the topic of a number of research reports. Sanford C. Bernstein upgraded 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 shares of Coupang from a “hold” rating to an “outperform” rating and increased their target price for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.56.

Insider Activity at Coupang

In other news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares in the company, valued at approximately $3,390,084.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the sale, the insider now owns 170,356 shares in the company, valued at approximately $3,390,084.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greenoaks Capital Partners Llc bought 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $22.64 per share, for a total transaction of $3,396,000.00. Following the purchase, the director now owns 49,874,924 shares in the company, valued at $1,129,168,279.36. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 601,300 shares of company stock worth $13,604,354 and have sold 411,388 shares worth $9,452,761. 13.60% of the stock is owned by insiders.

Coupang Stock Up 0.2 %

Shares of CPNG opened at $25.67 on Friday. The stock has a fifty day simple moving average of $24.10 and a two-hundred day simple moving average of $22.55. 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 company has a market capitalization of $45.90 billion, a PE ratio of 36.67, 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.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. As a group, equities analysts forecast that Coupang, Inc. will post 0.09 EPS for the current year.

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.