Bamco Inc. NY Has $166.78 Million Holdings in Coupang, Inc. (NYSE:CPNG)

Bamco Inc. NY trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 8.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,793,580 shares of the company’s stock after selling 598,815 shares during the period. Bamco Inc. NY owned approximately 0.38% of Coupang worth $166,782,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Handelsbanken Fonder AB grew its stake in shares of Coupang by 2.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock worth $21,706,000 after acquiring an additional 24,553 shares in the last quarter. abrdn plc grew its position in Coupang by 40.2% in the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after purchasing an additional 58,060 shares in the last quarter. Coronation Fund Managers Ltd. increased its stake in Coupang by 139.1% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after buying an additional 2,802,325 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Coupang by 55.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after buying an additional 1,615,448 shares in the last quarter. Finally, Blue Trust Inc. purchased a new position in shares of Coupang in the 2nd quarter worth approximately $231,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Company insiders own 13.60% of the company’s stock.

Coupang Trading Down 0.4 %

Shares of Coupang stock opened at $25.36 on Monday. The stock has a market capitalization of $45.62 billion, a P/E ratio of 44.49, a P/E/G ratio of 228.26 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 debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The stock’s 50-day simple moving average is $25.10 and its 200 day simple moving average is $23.06.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. As a group, research analysts anticipate that Coupang, Inc. will post 0.11 EPS for the current year.

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.