CTC Alternative Strategies Ltd. Acquires Shares of 28,419 Coupang, Inc. (NYSE:CPNG)

CTC Alternative Strategies Ltd. acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,419 shares of the company's stock, valued at approximately $625,000. Coupang accounts for 0.8% of CTC Alternative Strategies Ltd.'s investment portfolio, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wingate Wealth Advisors Inc. purchased a new position in shares of Coupang during the fourth quarter valued at approximately $26,000. Berbice Capital Management LLC purchased a new position in shares of Coupang during the fourth quarter valued at approximately $31,000. Itau Unibanco Holding S.A. boosted its position in shares of Coupang by 520.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after buying an additional 1,640 shares during the period. Allworth Financial LP boosted its position in shares of Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after buying an additional 1,986 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Coupang by 142.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after buying an additional 1,429 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Stock Up 3.5%

Coupang stock traded up $0.95 during mid-day trading on Tuesday, reaching $28.40. 14,952,342 shares of the company were exchanged, compared to its average volume of 7,958,735. The business has a fifty day moving average of $23.55 and a 200 day moving average of $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 PEG ratio of 52.20 and a beta of 1.08. Coupang, Inc. has a 12-month low of $18.16 and a 12-month high of $28.53.

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

Analysts Set New Price Targets

CPNG has been the subject of several research analyst reports. 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 research note on Wednesday, February 26th. Mizuho raised shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Finally, Barclays lifted their price target 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 analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Coupang has a consensus rating of "Moderate Buy" and a consensus target price of $29.64.

Insider Transactions at Coupang

In related news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the company's 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 of the company's stock, valued at $8,228,213,169.25. This represents a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the company's stock in a transaction on 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 in the company, valued at approximately $59,176,269. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale 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 90 days. Insiders own 13.60% of the company's stock.

About Coupang

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.