Graham Capital Management L.P. Makes New Investment in Coupang, Inc. (NYSE:CPNG)

Graham Capital Management L.P. purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 39,284 shares of the company’s stock, valued at approximately $863,000.

Several other hedge funds also recently modified their holdings of CPNG. Pacer Advisors Inc. boosted its position in shares of Coupang by 4.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after acquiring an additional 452 shares during the last quarter. Angeles Wealth Management LLC boosted its position in shares of Coupang by 0.8% in the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock worth $1,211,000 after acquiring an additional 459 shares during the last quarter. Virtus ETF Advisers LLC boosted its position in shares of Coupang by 1.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company’s stock worth $975,000 after acquiring an additional 466 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Coupang by 3.8% in the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after acquiring an additional 469 shares during the last quarter. Finally, Ignite Planners LLC boosted its position in shares of Coupang by 2.5% in the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after acquiring an additional 483 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Trading Up 1.7%

CPNG opened at $26.58 on Wednesday. The firm has a market capitalization of $47.99 billion, a P/E ratio of 46.63, a P/E/G ratio of 52.20 and a beta of 1.08. The firm’s 50 day moving average is $22.73 and its 200-day moving average is $23.43. Coupang, Inc. has a 52-week low of $18.16 and a 52-week high of $27.03. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $8.02 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts expect that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

CPNG has been the topic of several research analyst reports. Barclays raised their target price on shares of Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Mizuho raised shares of Coupang to a “hold” rating in a research report on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.19.

Insider Activity

In related news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of Coupang stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $25.75, for a total value of $772,500,000.00. Following the completion of the sale, the insider now owns 319,542,259 shares in the company, valued at approximately $8,228,213,169.25. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Pranam Kolari sold 9,347 shares of Coupang stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the sale, the vice president now owns 177,106 shares of the company’s stock, valued at approximately $4,223,978.10. This trade represents a 5.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,259,347 shares of company stock worth $778,580,426 over the last 90 days. Company insiders own 13.60% of the company’s stock.

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.