West Tower Group LLC Increases Position in Coupang, Inc. (NYSE:CPNG)

West Tower Group LLC lifted its holdings in Coupang, Inc. (NYSE:CPNG) by 166.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,000 shares of the company’s stock after purchasing an additional 5,000 shares during the period. West Tower Group LLC’s holdings in Coupang were worth $196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Baillie Gifford & Co. increased its stake in Coupang by 1.6% during the 2nd 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 in the last quarter. Dorsal Capital Management LP increased its stake 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 buying an additional 1,250,000 shares in the last quarter. Coronation Fund Managers Ltd. increased its stake in Coupang by 139.1% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after buying an additional 2,802,325 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in 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, Renaissance Technologies LLC increased its stake in Coupang by 10.7% during the 2nd quarter. Renaissance Technologies LLC now owns 3,589,528 shares of the company’s stock worth $75,201,000 after buying an additional 347,600 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CPNG. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Monday, October 7th. 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Insider Activity at Coupang

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

Coupang Trading Up 2.8 %

Shares of Coupang stock opened at $24.99 on Tuesday. The stock has a market cap of $44.95 billion, a P/E ratio of 43.84, a P/E/G ratio of 218.90 and a beta of 1.10. The stock’s 50 day simple moving average is $25.01 and its 200-day simple moving average is $22.97. 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 current ratio of 1.13 and a quick ratio of 0.86.

Coupang (NYSE:CPNG) last released its quarterly earnings data 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 return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. During the same period in the prior year, the firm posted $0.05 earnings per share. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. Analysts predict that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Coupang Company 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.