Hobbs Group Advisors LLC Trims Position in Coupang, Inc. (NYSE:CPNG)

Hobbs Group Advisors LLC trimmed its position in shares of Coupang, Inc. (NYSE:CPNG) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,760 shares of the company’s stock after selling 500 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Coupang were worth $389,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. grew its position in Coupang by 1.6% during the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after buying an additional 2,749,027 shares during the period. FMR LLC raised its stake in Coupang by 32.0% during 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 period. State Street Corp raised its stake in Coupang by 1.9% during the third quarter. State Street Corp now owns 14,125,599 shares of the company’s stock worth $346,783,000 after purchasing an additional 259,400 shares during the period. Wellington Management Group LLP raised its stake in shares of Coupang by 43.2% in 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 during the period. Finally, Dorsal Capital Management LP raised its stake in shares of Coupang by 26.3% in the 2nd quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $125,700,000 after acquiring an additional 1,250,000 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coupang

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

Analysts Set New Price Targets

A number of research firms recently weighed in on CPNG. Sanford C. Bernstein raised shares of 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. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and raised their price objective for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.56.

Coupang Trading Up 1.2 %

Coupang stock opened at $23.72 on Wednesday. The company has a market cap of $42.67 billion, a P/E ratio of 41.61, a PEG ratio of 215.12 and a beta of 1.07. The firm’s 50-day moving average is $24.99 and its 200-day moving average is $23.12. Coupang, Inc. has a 1 year low of $13.51 and a 1 year 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.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. The firm had revenue of $7.87 billion for 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%. Coupang’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period last year, the firm posted $0.05 EPS. On average, equities analysts expect that Coupang, Inc. will post 0.11 earnings per share 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.