Ignite Planners LLC Grows Stake in Coupang, Inc. (NYSE:CPNG)

Ignite Planners LLC increased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,162 shares of the company’s stock after purchasing an additional 483 shares during the quarter. Ignite Planners LLC’s holdings in Coupang were worth $452,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CPNG. Brooklyn Investment Group purchased a new stake in shares of Coupang during the third quarter worth about $28,000. Asset Dedication LLC boosted its stake in 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 last quarter. Van ECK Associates Corp boosted its stake in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after buying an additional 484 shares during the last quarter. Wolff Wiese Magana LLC boosted its stake in Coupang by 330.4% during the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after buying an additional 1,295 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in 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. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insiders Place Their Bets

In other Coupang news, CEO Bom Kim sold 15,000,000 shares of the firm’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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the acquisition, the director now directly owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This trade represents 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 company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup dropped their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Sanford C. Bernstein raised 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Coupang Price Performance

Shares of CPNG stock opened at $21.94 on Wednesday. Coupang, Inc. has a 52-week low of $13.51 and a 52-week 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. The firm has a market capitalization of $39.47 billion, a P/E ratio of 38.49, a P/E/G ratio of 215.03 and a beta of 1.10. The stock has a 50 day moving average price of $23.59 and a 200 day moving average price of $23.29.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $7.76 billion. During the same period last year, the company earned $0.05 EPS. Coupang’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, sell-side analysts predict that Coupang, Inc. will post 0.11 earnings per share for the current 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.