CTC Alternative Strategies Ltd. Takes Position in Coupang, Inc. (NYSE:CPNG)

CTC Alternative Strategies Ltd. purchased a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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 biggest holding.

A number of other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in Coupang by 29.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after acquiring an additional 17,123,637 shares in the last quarter. FMR LLC lifted its stake in Coupang by 9.1% during the fourth quarter. FMR LLC now owns 29,619,581 shares of the company's stock worth $651,038,000 after purchasing an additional 2,465,973 shares during the last quarter. Durable Capital Partners LP lifted its stake in Coupang by 13.6% during the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after purchasing an additional 3,420,133 shares during the last quarter. Dragoneer Investment Group LLC increased its position in Coupang by 9.0% during the fourth quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock worth $451,497,000 after buying an additional 1,690,826 shares during the period. Finally, Dodge & Cox increased its position in Coupang by 0.6% during the fourth quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock worth $444,640,000 after buying an additional 123,900 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Greenoaks Capital Partners Llc purchased 650,000 shares of Coupang stock in a transaction dated Thursday, May 15th. The stock was bought at an average price of $26.86 per share, with a total value of $17,459,000.00. Following the completion of the acquisition, the director now owns 55,131,161 shares in the company, valued at $1,480,822,984.46. The trade was a 1.19% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the transaction, the insider now directly owns 319,542,259 shares of the company's stock, valued at approximately $8,228,213,169.25. This trade represents a 8.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,334,697 shares of company stock worth $780,547,061. 13.60% of the stock is currently owned by corporate insiders.

Coupang Price Performance

CPNG traded down $0.38 during trading on Thursday, reaching $27.93. 3,913,899 shares of the stock were exchanged, compared to its average volume of 7,939,468. The business's 50 day moving average price is $23.75 and its two-hundred day moving average price is $23.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The company has a market capitalization of $50.70 billion, a price-to-earnings ratio of 48.97, a P/E/G ratio of 52.20 and a beta of 1.08. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $28.89.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised 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. Barclays boosted their target price on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Mizuho raised Coupang to a "hold" rating in a report on Friday, April 18th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.64.

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.