Pekin Hardy Strauss Inc. Sells 5,000 Shares of Coupang, Inc. (NYSE:CPNG)

Pekin Hardy Strauss Inc. reduced its stake in shares of Coupang, Inc. (NYSE:CPNG) by 20.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,000 shares of the company’s stock after selling 5,000 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Coupang were worth $466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Asset Dedication LLC lifted its holdings in shares of Coupang by 438.1% in the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after acquiring an additional 990 shares during the last quarter. Van ECK Associates Corp lifted its stake in 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. Wolff Wiese Magana LLC lifted its stake in 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. GAMMA Investing LLC grew its stake in shares of Coupang by 308.2% during the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after buying an additional 1,470 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Coupang by 438.9% during the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after buying an additional 1,931 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coupang 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 transaction of $344,550,000.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the transaction, the director now owns 52,726,423 shares in the company, valued at approximately $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 owned by company insiders.

Coupang Stock Performance

CPNG stock opened at $24.32 on Monday. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $26.91. The business has a 50-day moving average price of $24.99 and a 200 day moving average price of $22.95. The company has a market capitalization of $43.75 billion, a P/E ratio of 42.67, a PEG ratio of 216.02 and a beta of 1.10. 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 posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the previous year, the business posted $0.05 EPS. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts forecast that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Analyst Ratings Changes

CPNG has been the subject of a number of recent analyst reports. 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 report on Monday, October 7th. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Coupang presently has a consensus rating of “Moderate Buy” and an average price target of $27.56.

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.