Advisors Asset Management Inc. Sells 1,008 Shares of Coupang, Inc. (NYSE:CPNG)

Advisors Asset Management Inc. cut its holdings in Coupang, Inc. (NYSE:CPNG) by 11.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,679 shares of the company’s stock after selling 1,008 shares during the quarter. Advisors Asset Management Inc.’s holdings in Coupang were worth $189,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after buying an additional 484 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in Coupang by 5.7% in the second quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock valued at $219,000 after purchasing an additional 567 shares during the last quarter. Covestor Ltd boosted its stake in shares of Coupang by 10.4% during the third quarter. Covestor Ltd now owns 6,479 shares of the company’s stock valued at $159,000 after purchasing an additional 612 shares in the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Coupang by 6.0% during the second quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock worth $235,000 after purchasing an additional 635 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Coupang by 15.4% in the second quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock valued at $141,000 after buying an additional 890 shares during the period. Institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

CPNG has been the topic of several recent research reports. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Monday, October 7th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and lifted their price target for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Price Performance

Shares of NYSE CPNG opened at $25.38 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $45.65 billion, a PE ratio of 44.52, a P/E/G ratio of 229.25 and a beta of 1.10. The firm has a fifty day simple moving average of $25.10 and a 200 day simple moving average of $23.05. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $26.91.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same period in the previous year, the business earned $0.05 EPS. The firm’s revenue was up 27.2% compared to the same quarter last year. On average, sell-side analysts forecast that Coupang, Inc. will post 0.11 EPS for the current year.

Insider Buying and Selling at Coupang

In related news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of Coupang stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $24.01 per share, for a total transaction of $18,007,500.00. Following the completion of the acquisition, the director now owns 52,038,723 shares of the company’s stock, valued at $1,249,449,739.23. This trade represents a 1.46 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at $45,940,000. This represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

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.