Harvest Fund Management Co. Ltd Takes Position in Coupang, Inc. (NYSE:CPNG)

Harvest Fund Management Co. Ltd purchased a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 30,957 shares of the company’s stock, valued at approximately $760,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Dedication LLC increased its position in shares of Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after buying an additional 990 shares during the period. Van ECK Associates Corp increased its position in shares of Coupang by 63.1% in the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Coupang by 308.2% in the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after purchasing an additional 1,470 shares during the last quarter. Wolff Wiese Magana LLC increased its position in shares of Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after purchasing an additional 1,295 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Coupang by 438.9% in the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after purchasing an additional 1,931 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coupang

In related news, Director Greenoaks Capital Partners Llc acquired 750,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of $24.01 per share, with a total value of $18,007,500.00. Following the completion of the purchase, the director now owns 52,038,723 shares in the company, valued at $1,249,449,739.23. This trade represents a 1.46 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction that occurred on 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 trade represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CPNG shares. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and upped their price objective for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.56.

Coupang Stock Up 2.8 %

Shares of NYSE CPNG opened at $24.99 on Tuesday. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The firm’s 50 day simple moving average is $25.01 and its two-hundred day simple moving average is $22.97. The stock has a market capitalization of $44.95 billion, a P/E ratio of 43.84, a PEG ratio of 218.90 and a beta of 1.10.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. During the same period last year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, analysts expect 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.