Victory Capital Management Inc. Increases Position in Coupang, Inc. (NYSE:CPNG)

Victory Capital Management Inc. lifted its holdings in Coupang, Inc. (NYSE:CPNG) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,567 shares of the company’s stock after purchasing an additional 1,024 shares during the period. Victory Capital Management Inc.’s holdings in Coupang were worth $2,764,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. RMR Capital Management LLC increased its stake in shares of Coupang by 33.6% in the 3rd quarter. RMR Capital Management LLC now owns 21,592 shares of the company’s stock valued at $530,000 after purchasing an additional 5,435 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Coupang during the 3rd quarter worth approximately $266,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Coupang by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 374,807 shares of the company’s stock worth $9,202,000 after buying an additional 1,135 shares in the last quarter. GSA Capital Partners LLP increased its stake in Coupang by 25.6% during the 3rd quarter. GSA Capital Partners LLP now owns 93,676 shares of the company’s stock worth $2,300,000 after buying an additional 19,095 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Coupang by 77.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 12,599 shares of the company’s stock worth $309,000 after buying an additional 5,481 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Trading Up 1.3 %

Shares of Coupang stock opened at $24.32 on Friday. The stock has a market cap of $43.75 billion, a P/E ratio of 42.67, a P/E/G ratio of 216.02 and a beta of 1.10. The stock’s 50 day simple moving average is $24.99 and its 200-day simple moving average is $22.94. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $26.91. 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 earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. Analysts predict that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Insider Activity at Coupang

In related 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the acquisition, the director now directly owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. The trade was a 1.32 % increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on CPNG shares. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Monday, October 7th. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and boosted their price objective 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

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.