Coupang, Inc. (NYSE:CPNG) Stock Holdings Decreased by Davis Selected Advisers
Davis Selected Advisers reduced its position in Coupang, Inc. (NYSE:CPNG – Get Rating) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,507,055 shares of the company’s stock after selling 64,601 shares during the period. Coupang comprises approximately 1.0% of Davis Selected Advisers’ holdings, making the stock its 24th largest position. Davis Selected Advisers owned approximately 0.48% of Coupang worth $141,813,000 at the end of the most recent reporting period.
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Several other institutional investors have also made changes to their positions in CPNG. Price T Rowe Associates Inc. MD grew its position in Coupang by 14.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 47,947,638 shares of the company’s stock valued at $611,332,000 after purchasing an additional 5,919,724 shares in the last quarter. Coronation Fund Managers Ltd. grew its position in Coupang by 86.0% during the second quarter. Coronation Fund Managers Ltd. now owns 5,593,272 shares of the company’s stock valued at $71,314,000 after purchasing an additional 2,586,039 shares in the last quarter. Scge Management L.P. grew its position in Coupang by 79.5% during the second quarter. Scge Management L.P. now owns 3,846,000 shares of the company’s stock valued at $49,037,000 after purchasing an additional 1,703,143 shares in the last quarter. Ardevora Asset Management LLP purchased a new position in Coupang during the third quarter valued at approximately $27,067,000. Finally, ExodusPoint Capital Management LP grew its position in Coupang by 933.4% during the third quarter. ExodusPoint Capital Management LP now owns 1,427,677 shares of the company’s stock valued at $23,799,000 after purchasing an additional 1,289,530 shares in the last quarter. 71.56% of the stock is owned by hedge funds and other institutional investors.
Coupang Price Performance
Shares of Coupang stock traded down $0.15 on Monday, reaching $15.50. The stock had a trading volume of 1,392,447 shares, compared to its average volume of 6,195,677. The business’s 50-day moving average price is $16.48 and its two-hundred day moving average price is $17.39. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.22 and a quick ratio of 0.87. Coupang, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $27.12.
Insider Transactions at Coupang
In other news, Director Benjamin Sun sold 11,166 shares of the business’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $20.03, for a total value of $223,654.98. Following the completion of the sale, the director now directly owns 757,146 shares in the company, valued at $15,165,634.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Benjamin Sun sold 11,166 shares of the company’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $20.03, for a total transaction of $223,654.98. Following the completion of the transaction, the director now directly owns 757,146 shares in the company, valued at approximately $15,165,634.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 35,000,000 shares of the company’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $18.50, for a total transaction of $647,500,000.00. Following the transaction, the insider now owns 426,156,413 shares of the company’s stock, valued at $7,883,893,640.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,500,000 shares of company stock worth $657,152,335. 16.70% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several research firms have commented on CPNG. Barclays began coverage on shares of Coupang in a research report on Thursday. They issued an “overweight” rating and a $20.00 target price for the company. New Street Research began coverage on shares of Coupang in a research report on Thursday, December 1st. They issued a “buy” rating and a $25.00 target price for the company. Finally, Mizuho decreased their target price on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, November 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.39.
Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company 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.
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