ProShare Advisors LLC Cuts Position in Coupang, Inc. $CPNG

ProShare Advisors LLC lessened its position in Coupang, Inc. (NYSE:CPNG) by 7.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,597 shares of the company’s stock after selling 11,837 shares during the quarter. ProShare Advisors LLC’s holdings in Coupang were worth $4,152,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CPNG. Dodge & Cox increased its position in shares of Coupang by 101.6% during the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock valued at $894,413,000 after purchasing an additional 20,555,600 shares during the last quarter. GQG Partners LLC bought a new stake in Coupang in the 1st quarter worth approximately $168,127,000. Coronation Fund Managers Ltd. boosted its stake in Coupang by 2.4% in the first quarter. Coronation Fund Managers Ltd. now owns 7,559,777 shares of the company’s stock worth $165,786,000 after buying an additional 176,166 shares in the last quarter. Altimeter Capital Management LP grew its position in Coupang by 24.3% during the first quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company’s stock valued at $163,191,000 after acquiring an additional 1,455,555 shares during the last quarter. Finally, Kontiki Capital Management HK Ltd. raised its stake in shares of Coupang by 3.4% during the first quarter. Kontiki Capital Management HK Ltd. now owns 7,210,768 shares of the company’s stock worth $158,132,000 after acquiring an additional 237,300 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 11,653 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $31.98, for a total transaction of $372,662.94. Following the transaction, the vice president directly owned 147,023 shares of the company’s stock, valued at approximately $4,701,795.54. The trade was a 7.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Harold Rogers sold 64,755 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the completion of the transaction, the insider owned 449,569 shares of the company’s stock, valued at $14,413,182.14. This trade represents a 12.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 913,633 shares of company stock valued at $29,143,084 over the last three months. 12.78% of the stock is currently owned by corporate insiders.

Coupang Stock Performance

Shares of NYSE:CPNG opened at $28.28 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $31.62 and a 200-day moving average price of $29.55. The company has a market cap of $51.65 billion, a price-to-earnings ratio of 134.65 and a beta of 1.17. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $34.08.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.13 billion. Coupang had a return on equity of 6.95% and a net margin of 1.16%.Coupang’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. As a group, equities analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of recent research reports. Nomura Securities upgraded shares of Coupang to a “strong-buy” rating in a report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Coupang in a research note on Wednesday, October 8th. Mizuho upped their price target on shares of Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Arete Research started coverage on Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Coupang has an average rating of “Moderate Buy” and an average target price of $35.00.

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.