D.A. Davidson & CO. Acquires 5,940 Shares of Coupang, Inc. (NYSE:CPNG)

D.A. Davidson & CO. raised its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 5.1% during the third quarter, Holdings Channel reports. The fund owned 121,373 shares of the company’s stock after buying an additional 5,940 shares during the period. D.A. Davidson & CO.’s holdings in Coupang were worth $2,980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in shares of Coupang by 1.6% in 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 during the last quarter. FMR LLC grew its holdings in shares of Coupang by 32.0% in the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after purchasing an additional 6,584,910 shares during the last quarter. Dorsal Capital Management LP grew its holdings in shares of Coupang by 26.3% in 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 during the last quarter. Coronation Fund Managers Ltd. grew its holdings in shares of Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after purchasing an additional 2,802,325 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Coupang by 55.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after purchasing an additional 1,615,448 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Activity

In related news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of Coupang stock in a transaction dated Friday, November 8th. The stock was purchased 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 directly owns 52,038,723 shares of the company’s stock, valued at $1,249,449,739.23. The trade was a 1.46 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were 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 owns 2,000,000 shares of the company’s stock, valued at $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company’s stock.

Coupang Stock Performance

Shares of Coupang stock opened at $25.47 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $45.82 billion, a P/E ratio of 44.68, a P/E/G ratio of 225.02 and a beta of 1.10. The business has a fifty day simple moving average of $25.06 and a two-hundred day simple moving average of $23.01. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $26.91.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CPNG shares. CLSA raised Coupang from a “hold” rating to an “outperform” rating and raised their price target for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.56.

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.