Man Group plc Sells 20,714 Shares of Coupang, Inc. (NYSE:CPNG)

Man Group plc reduced its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 31.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,432 shares of the company's stock after selling 20,714 shares during the quarter. Man Group plc's holdings in Coupang were worth $999,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CPNG. Park Avenue Securities LLC bought a new stake in shares of Coupang during the fourth quarter worth $300,000. RFG Advisory LLC grew its holdings in shares of Coupang by 47.9% during the fourth quarter. RFG Advisory LLC now owns 30,357 shares of the company's stock worth $667,000 after purchasing an additional 9,833 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Coupang by 25.7% during the fourth quarter. Blue Trust Inc. now owns 9,253 shares of the company's stock worth $203,000 after purchasing an additional 1,891 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Coupang by 4.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company's stock worth $253,000 after purchasing an additional 452 shares during the last quarter. Finally, Parsons Capital Management Inc. RI grew its holdings in shares of Coupang by 1.1% during the fourth quarter. Parsons Capital Management Inc. RI now owns 149,744 shares of the company's stock worth $3,291,000 after purchasing an additional 1,606 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coupang

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

Analysts Set New Price Targets

Several brokerages have recently commented on CPNG. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price on the stock in a report on Wednesday, February 26th. Mizuho upgraded Coupang to a "hold" rating in a report on Friday, April 18th. Finally, Barclays raised their price target on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Coupang has an average rating of "Moderate Buy" and a consensus target price of $29.64.

Coupang Trading Up 3.5%

NYSE:CPNG traded up $0.95 during mid-day trading on Tuesday, hitting $28.40. The company had a trading volume of 14,952,342 shares, compared to its average volume of 7,958,712. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $28.53. The business's fifty day moving average is $23.55 and its two-hundred day moving average is $23.52. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The firm has a market cap of $51.56 billion, a P/E ratio of 49.83, a P/E/G ratio of 52.20 and a beta of 1.08.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results 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 company had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. Coupang's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, research analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current 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.