Worldquant Millennium Advisors LLC Takes $1.49 Million Position in Coupang, Inc. (NYSE:CPNG)

Worldquant Millennium Advisors LLC bought a new stake in Coupang, Inc. (NYSE:CPNG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 67,952 shares of the company’s stock, valued at approximately $1,494,000.

A number of other hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. raised its stake in shares of Coupang by 4.1% in the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock valued at $253,000 after acquiring an additional 452 shares during the period. Angeles Wealth Management LLC raised its stake in shares of Coupang by 0.8% in the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock valued at $1,211,000 after acquiring an additional 459 shares during the period. Virtus ETF Advisers LLC raised its stake in shares of Coupang by 1.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company’s stock valued at $975,000 after acquiring an additional 466 shares during the period. IFP Advisors Inc grew its holdings in Coupang by 3.8% during the 4th quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock valued at $280,000 after purchasing an additional 469 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Coupang by 8.6% during the 4th quarter. National Bank of Canada FI now owns 6,944 shares of the company’s stock valued at $153,000 after purchasing an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Gaurav Anand sold 75,350 shares of Coupang stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $26.10, for a total value of $1,966,635.00. Following the completion of the transaction, the chief financial officer now directly owns 2,267,290 shares of the company’s stock, valued at approximately $59,176,269. The trade was a 3.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Greenoaks Capital Partners Llc purchased 650,000 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was acquired at an average cost of $26.86 per share, with a total value of $17,459,000.00. Following the completion of the acquisition, the director now directly owns 55,131,161 shares in the company, valued at approximately $1,480,822,984.46. This trade represents a 1.19% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 30,334,697 shares of company stock valued at $780,547,061 in the last quarter. Insiders own 13.60% of the company’s stock.

Coupang Price Performance

Shares of CPNG stock opened at $27.28 on Friday. The firm has a market cap of $49.53 billion, a P/E ratio of 47.86, a P/E/G ratio of 52.20 and a beta of 1.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $27.73. The firm has a fifty day moving average of $23.38 and a two-hundred day moving average of $23.51.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.02 billion. The firm’s revenue was up 11.2% on a year-over-year basis. As a group, research analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays raised their price target on shares of Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a report on Wednesday, February 26th. Finally, Mizuho raised shares of Coupang to a “hold” rating in a report on Friday, April 18th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.64.

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.