Lecap Asset Management Ltd. Buys New Shares in Coupang, Inc. (NYSE:CPNG)

Lecap Asset Management Ltd. bought a new stake in Coupang, Inc. (NYSE:CPNG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 96,207 shares of the company’s stock, valued at approximately $2,115,000.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Coupang in the third quarter valued at $28,000. Asset Dedication LLC boosted its position in Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after buying an additional 990 shares during the period. Berbice Capital Management LLC purchased a new stake in Coupang during the fourth quarter valued at about $31,000. Van ECK Associates Corp boosted its position in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after buying an additional 484 shares during the period. Finally, Wolff Wiese Magana LLC boosted its position in Coupang by 330.4% during the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after buying an additional 1,295 shares during the period. Institutional investors own 83.72% of the company’s stock.

Insider Transactions at Coupang

In related news, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 2,000,000 shares of the company’s stock, valued at $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Pranam Kolari sold 8,459 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the completion of the transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,009,234 shares of company stock worth $344,761,515. Company insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut their price target on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.56.

Coupang Stock Performance

Coupang stock opened at $23.82 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $22.98 and a 200-day moving average of $23.46. The firm has a market cap of $42.85 billion, a P/E ratio of 41.80, a P/E/G ratio of 42.58 and a beta of 1.11. Coupang, Inc. has a 1-year low of $13.95 and a 1-year high of $26.91.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. Coupang’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 earnings per share. Sell-side analysts expect that Coupang, Inc. will post 0.14 EPS 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.