Coupang, Inc. (NYSE:CPNG) Shares Sold by Whale Rock Capital Management LLC

Whale Rock Capital Management LLC lowered its stake in Coupang, Inc. (NYSE:CPNG) by 7.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,919,803 shares of the company’s stock after selling 626,483 shares during the quarter. Coupang accounts for about 2.7% of Whale Rock Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Whale Rock Capital Management LLC’s holdings in Coupang were worth $194,431,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPNG. GAMMA Investing LLC boosted its holdings in Coupang by 308.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after purchasing an additional 1,470 shares during the last quarter. CWM LLC lifted its stake in Coupang by 1.9% during the 2nd quarter. CWM LLC now owns 134,844 shares of the company’s stock worth $2,825,000 after acquiring an additional 2,481 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Coupang during the 2nd quarter worth about $74,000. SG Americas Securities LLC purchased a new position in Coupang during the 2nd quarter valued at about $175,000. Finally, Ignite Planners LLC grew its position in Coupang by 10.3% in the 2nd quarter. Ignite Planners LLC now owns 22,009 shares of the company’s stock valued at $477,000 after acquiring an additional 2,050 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the transaction, the director now directly owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. The trade was a 1.32 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bom Kim sold 15,000,000 shares of the 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 sale, the chief executive officer now directly 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. 13.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CPNG shares. Sanford C. Bernstein raised shares of 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 lifted their price objective for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Coupang Trading Up 0.7 %

Shares of Coupang stock opened at $24.03 on Friday. The company has a fifty day simple moving average of $25.06 and a 200-day simple moving average of $23.09. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91. 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 stock has a market cap of $43.23 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 215.30 and a beta of 1.07.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same quarter last year, the company posted $0.05 earnings per share. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, equities analysts forecast that Coupang, Inc. will post 0.11 EPS for the current fiscal 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.