Alpine Global Management LLC Decreases Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Alpine Global Management LLC decreased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 21.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the company’s stock after selling 2,800 shares during the quarter. Alpine Global Management LLC’s holdings in Coupang were worth $178,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new stake in Coupang during the first quarter valued at $1,443,000. Quadrature Capital Ltd purchased a new stake in Coupang during the first quarter valued at $3,364,000. Cloverfields Capital Group LP raised its stake in Coupang by 1.1% during the first quarter. Cloverfields Capital Group LP now owns 116,153 shares of the company’s stock valued at $2,066,000 after purchasing an additional 1,244 shares in the last quarter. JT Stratford LLC bought a new position in Coupang during the first quarter valued at $833,000. Finally, Capital International Inc. CA raised its position in Coupang by 5.8% in the 1st quarter. Capital International Inc. CA now owns 1,401,119 shares of the company’s stock worth $24,926,000 after purchasing an additional 76,848 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CPNG. Morgan Stanley raised their price objective on shares of Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. UBS Group raised shares of Coupang from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $18.50 to $26.00 in a research note on Thursday, May 16th. Citigroup lifted their price target on shares of Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Bank of America initiated coverage on shares of Coupang in a report on Friday, May 3rd. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Mizuho boosted their price objective on shares of Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and an average target price of $26.71.

Insider Buying and Selling

In related news, Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the completion of the sale, the director now owns 2,169,421 shares of the company’s stock, valued at approximately $44,755,155.23. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the completion of the sale, the director now owns 2,169,421 shares of the company’s stock, valued at approximately $44,755,155.23. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total transaction of $45,752.32. Following the sale, the insider now directly owns 187,951 shares of the company’s stock, valued at approximately $4,198,825.34. The disclosure for this sale can be found here. Insiders sold a total of 753,538 shares of company stock worth $15,662,818 in the last 90 days. Insiders own 13.60% of the company’s stock.

Coupang Stock Performance

NYSE CPNG traded up $0.39 on Friday, reaching $20.18. 9,692,080 shares of the company’s stock traded hands, compared to its average volume of 5,708,531. The firm has a market cap of $36.08 billion, a price-to-earnings ratio of 28.83, a P/E/G ratio of 1,998.02 and a beta of 1.09. The stock has a 50 day moving average price of $21.49 and a 200-day moving average price of $19.44. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $23.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 1.15.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $7.11 billion during the quarter, compared to analyst estimates of $6.95 billion. Coupang had a return on equity of 13.59% and a net margin of 4.96%. The company’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. Equities research analysts predict that Coupang, Inc. will post 0.01 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.