Park Avenue Securities LLC Acquires New Stake in Coupang, Inc. (NYSE:CPNG)

Park Avenue Securities LLC acquired a new stake in Coupang, Inc. (NYSE:CPNG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,668 shares of the company’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of Coupang by 85.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock worth $24,182,000 after purchasing an additional 506,622 shares during the period. Handelsbanken Fonder AB lifted its holdings in Coupang by 2.9% during the third quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock worth $21,706,000 after buying an additional 24,553 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Coupang by 22.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock valued at $18,640,000 after acquiring an additional 138,416 shares in the last quarter. abrdn plc increased its holdings in shares of Coupang by 40.2% in the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock valued at $4,968,000 after acquiring an additional 58,060 shares during the period. Finally, Plotkin Financial Advisors LLC bought a new position in shares of Coupang in the 3rd quarter worth $491,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

CPNG has been the topic of a number of recent research reports. Citigroup dropped their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Insider Buying and Selling

In other news, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc purchased 750,000 shares of Coupang stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $24.01 per share, with a total value of $18,007,500.00. Following the completion of the transaction, the director now owns 52,038,723 shares of the company’s stock, valued at $1,249,449,739.23. This represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is owned by corporate insiders.

Coupang Stock Performance

Shares of Coupang stock opened at $22.55 on Friday. The firm has a market capitalization of $40.57 billion, a P/E ratio of 39.56, a PEG ratio of 38.88 and a beta of 1.10. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91. 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 50 day moving average price of $23.19 and a 200 day moving average price of $23.33.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter in the previous year, the business earned $0.05 EPS. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. Sell-side analysts expect 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.