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

Russell Investments Group Ltd. decreased its holdings in shares of Coupang, Inc. (NYSE:CPNGGet Rating) by 5.3% in the third quarter, HoldingsChannel reports. The firm owned 2,205,805 shares of the company’s stock after selling 123,637 shares during the quarter. Russell Investments Group Ltd.’s holdings in Coupang were worth $36,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Castleview Partners LLC raised its position in shares of Coupang by 1,174.6% in the 2nd quarter. Castleview Partners LLC now owns 2,358 shares of the company’s stock worth $185,000 after acquiring an additional 2,173 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Coupang by 8.0% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 36,892 shares of the company’s stock worth $470,000 after acquiring an additional 2,722 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Coupang by 17.7% in the 2nd quarter. TD Asset Management Inc. now owns 47,992 shares of the company’s stock worth $612,000 after acquiring an additional 7,228 shares in the last quarter. Jennison Associates LLC raised its position in shares of Coupang by 38.4% in the 3rd quarter. Jennison Associates LLC now owns 2,824,866 shares of the company’s stock worth $47,091,000 after acquiring an additional 783,885 shares in the last quarter. Finally, CTC Capital Management LLC bought a new position in shares of Coupang in the 3rd quarter worth approximately $480,000. Institutional investors own 71.56% of the company’s stock.

Coupang Price Performance

Shares of CPNG opened at $16.42 on Wednesday. The business’s fifty day simple moving average is $17.31 and its two-hundred day simple moving average is $17.40. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.78. Coupang, Inc. has a 12 month low of $8.98 and a 12 month high of $27.12.

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

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of analyst reports. New Street Research initiated coverage on Coupang in a research report on Thursday, December 1st. They set a “buy” rating and a $25.00 price objective for the company. Mizuho reduced their price objective on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, November 10th. Finally, HSBC initiated coverage on Coupang in a research report on Friday, October 7th. They set a “buy” rating and a $27.80 price objective for the company. One research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.61.

Insider Transactions at Coupang

In other news, Director Greenoaks Capital Partners Llc sold 200,000 shares of the firm’s stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $18.26, for a total value of $3,652,000.00. Following the transaction, the director now directly owns 70,651,928 shares in the company, valued at approximately $1,290,104,205.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Greenoaks Capital Partners Llc sold 200,000 shares of the firm’s stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $18.26, for a total value of $3,652,000.00. Following the transaction, the director now directly owns 70,651,928 shares of the company’s stock, valued at approximately $1,290,104,205.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 35,000,000 shares of the firm’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $18.50, for a total value of $647,500,000.00. Following the completion of the transaction, the insider now directly owns 426,156,413 shares in the company, valued at $7,883,893,640.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,800,000 shares of company stock worth $680,784,835 in the last ninety days. Insiders own 16.70% of the company’s stock.

Coupang Company Profile

(Get Rating)

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

Want to see what other hedge funds are holding CPNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coupang, Inc. (NYSE:CPNGGet Rating).

Institutional Ownership by Quarter for Coupang (NYSE:CPNG)

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