Adalta Capital Management LLC Increases Stake in Coupang, Inc. (NYSE:CPNG)

Adalta Capital Management LLC increased its stake in Coupang, Inc. (NYSE:CPNG) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,961 shares of the company’s stock after acquiring an additional 1,000 shares during the period. Coupang makes up 1.0% of Adalta Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. Adalta Capital Management LLC’s holdings in Coupang were worth $1,938,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CPNG. Baillie Gifford & Co. raised its holdings in Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock valued at $3,589,783,000 after buying an additional 2,749,027 shares during the period. FMR LLC raised its stake in shares of Coupang by 32.0% in the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after acquiring an additional 6,584,910 shares during the period. State Street Corp raised its stake in shares of Coupang by 1.9% in the 3rd quarter. State Street Corp now owns 14,125,599 shares of the company’s stock valued at $346,783,000 after acquiring an additional 259,400 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after acquiring an additional 2,603,046 shares in the last quarter. Finally, Dorsal Capital Management LP boosted its position in Coupang by 26.3% during the 2nd 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 period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Price Performance

Shares of NYSE CPNG opened at $23.90 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $26.91. The business has a 50 day moving average price of $25.02 and a two-hundred day moving average price of $23.10. The firm has a market cap of $42.99 billion, a PE ratio of 41.93, a price-to-earnings-growth ratio of 215.12 and a beta of 1.07.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. Sell-side analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the purchase, the director now directly owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. This trade represents a 1.32 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. The trade was a 88.24 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.

Analyst Ratings Changes

CPNG has been the topic of a number of recent research reports. 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. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.56.

About Coupang

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.