Fred Alger Management LLC Decreases Holdings in Coupang, Inc. (NYSE:CPNG)

Fred Alger Management LLC lowered its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 91.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,272 shares of the company's stock after selling 1,091,490 shares during the quarter. Fred Alger Management LLC's holdings in Coupang were worth $2,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Harbour Capital Advisors LLC lifted its holdings in shares of Coupang by 21.0% in the 4th quarter. Harbour Capital Advisors LLC now owns 28,650 shares of the company's stock worth $642,000 after acquiring an additional 4,975 shares during the last quarter. 180 Wealth Advisors LLC lifted its stake in Coupang by 2.7% in the fourth quarter. 180 Wealth Advisors LLC now owns 33,683 shares of the company's stock worth $740,000 after purchasing an additional 896 shares during the last quarter. Ignite Planners LLC boosted its position in shares of Coupang by 2.5% during the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company's stock valued at $452,000 after buying an additional 483 shares during the period. Oak Thistle LLC purchased a new position in shares of Coupang during the fourth quarter valued at approximately $1,651,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Coupang by 85.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock valued at $24,182,000 after buying an additional 506,622 shares during the last quarter. Institutional investors own 83.72% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Coupang

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

Coupang Stock Up 1.7%

NYSE CPNG traded up $0.44 on Tuesday, reaching $26.58. 25,854,807 shares of the stock traded hands, compared to its average volume of 7,761,739. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $27.03. The company has a market cap of $47.99 billion, a price-to-earnings ratio of 46.63, a PEG ratio of 52.20 and a beta of 1.08. The company has a fifty day moving average price of $22.66 and a 200-day moving average price of $23.41. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

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

Coupang Company 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.