Tidal Investments LLC Makes New $5.65 Million Investment in Coupang, Inc. (NYSE:CPNG)

Tidal Investments LLC bought a new position in shares of Coupang, Inc. (NYSE:CPNG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 229,967 shares of the company’s stock, valued at approximately $5,646,000.

Several other hedge funds have also recently modified their holdings of CPNG. Wilmington Savings Fund Society FSB purchased a new stake in Coupang during the 3rd quarter worth approximately $1,094,000. Advisory Resource Group increased its position in shares of Coupang by 1.9% during the third quarter. Advisory Resource Group now owns 44,096 shares of the company’s stock worth $1,083,000 after purchasing an additional 823 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in Coupang by 10.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 15,517 shares of the company’s stock valued at $382,000 after purchasing an additional 1,427 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Coupang by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company’s stock valued at $144,483,000 after purchasing an additional 29,164 shares in the last quarter. Finally, Adalta Capital Management LLC boosted its stake in Coupang by 1.3% during the 3rd quarter. Adalta Capital Management LLC now owns 78,961 shares of the company’s stock worth $1,938,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

CPNG has been the subject of a number of recent research reports. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, October 7th. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and boosted their target price for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. One 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 currently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Insider Buying and Selling at Coupang

In related news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction dated Monday, November 11th. The stock was acquired at an average price 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 of the company’s stock, valued at $1,269,652,265.84. This represents a 1.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 2,000,000 shares in the company, valued at $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is owned by insiders.

Coupang Stock Performance

Shares of CPNG opened at $23.89 on Friday. The stock has a 50-day simple moving average of $24.97 and a 200-day simple moving average of $23.15. 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, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The stock has a market capitalization of $42.97 billion, a PE ratio of 41.91, a PEG ratio of 215.03 and a beta of 1.07.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping 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 company had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter in the previous year, the business posted $0.05 EPS. The firm’s revenue was up 27.2% on a year-over-year basis. On average, analysts predict that Coupang, Inc. will post 0.11 earnings per share 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.