Lord Abbett & CO. LLC Has $31.74 Million Holdings in Coupang, Inc. (NYSE:CPNG)

Lord Abbett & CO. LLC raised its stake in Coupang, Inc. (NYSE:CPNG) by 269.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,292,886 shares of the company’s stock after acquiring an additional 942,839 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Coupang were worth $31,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Coupang in the 3rd quarter valued at about $28,000. Asset Dedication LLC increased its position in Coupang by 438.1% in the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after acquiring an additional 990 shares in the last quarter. Van ECK Associates Corp increased its position in Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after acquiring an additional 484 shares in the last quarter. Wolff Wiese Magana LLC increased its position in Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Coupang by 438.9% during the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after buying an additional 1,931 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Down 1.8 %

Shares of NYSE CPNG opened at $23.89 on Monday. The stock has a market cap of $42.97 billion, a P/E ratio of 41.91, a P/E/G ratio of 215.03 and a beta of 1.07. The firm has a 50 day moving average price of $24.97 and a 200 day moving average price of $23.15. 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, Inc. has a 52-week low of $13.51 and a 52-week high of $26.91.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The firm had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. Analysts expect that Coupang, Inc. will post 0.11 EPS for the current year.

Insider Activity at Coupang

In other Coupang news, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $22.97, for a total value of $344,550,000.00. Following the transaction, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the business’s stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the purchase, the director now owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. This represents a 1.32 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CPNG. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Monday, October 7th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and lifted their price target for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

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.