Russell Investments Group Ltd. Sells 123,637 Shares of Coupang, Inc. (NYSE:CPNG)

Russell Investments Group Ltd. cut its holdings in shares of Coupang, Inc. (NYSE:CPNGGet Rating) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,205,805 shares of the company’s stock after selling 123,637 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Coupang worth $36,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new position in Coupang during the third quarter worth about $8,197,000. Barclays PLC lifted its holdings in Coupang by 22.1% during the third quarter. Barclays PLC now owns 394,445 shares of the company’s stock worth $6,576,000 after acquiring an additional 71,420 shares in the last quarter. Cannon Global Investment Management LLC bought a new position in Coupang during the third quarter worth about $667,000. Landscape Capital Management L.L.C. bought a new position in Coupang during the third quarter worth about $349,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Coupang by 1,699.2% during the third quarter. Rockefeller Capital Management L.P. now owns 20,655 shares of the company’s stock worth $343,000 after acquiring an additional 19,507 shares in the last quarter. 71.56% of the stock is currently owned by institutional investors.

Coupang Price Performance

NYSE CPNG opened at $16.42 on Wednesday. The business has a fifty day moving average price of $17.31 and a two-hundred day moving average price of $17.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.87 and a current ratio of 1.22. Coupang, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $27.12.

Coupang (NYSE:CPNGGet Rating) last released its earnings results on Wednesday, November 9th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.08. Coupang had a negative return on equity of 28.35% and a negative net margin of 2.95%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.15 billion. As a group, research analysts anticipate that Coupang, Inc. will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CPNG shares. Mizuho dropped their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, November 10th. HSBC began coverage on Coupang in a research report on Friday, October 7th. They issued a “buy” rating and a $27.80 target price on the stock. Finally, New Street Research initiated coverage on Coupang in a research report on Thursday, December 1st. They issued a “buy” rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Coupang currently has an average rating of “Moderate Buy” and an average price target of $22.61.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 50,000 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $19.15, for a total transaction of $957,500.00. Following the completion of the transaction, the director now directly owns 2,339,473 shares in the company, valued at $44,800,907.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Benjamin Sun sold 50,000 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $19.15, for a total value of $957,500.00. Following the completion of the sale, the director now directly owns 2,339,473 shares in the company, valued at $44,800,907.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greenoaks Capital Partners Llc sold 1,250,000 shares of the stock in a transaction on Monday, November 14th. The shares were sold at an average price of $18.14, for a total value of $22,675,000.00. Following the completion of the sale, the director now owns 71,601,928 shares of the company’s stock, valued at $1,298,858,973.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,800,000 shares of company stock worth $680,784,835. Corporate insiders own 16.70% of the company’s stock.

Coupang Company Profile

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Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company sells various products and services in the categories of home goods and d├ęcor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.

See Also

Institutional Ownership by Quarter for Coupang (NYSE:CPNG)

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