PNC Financial Services Group Inc. Boosts Stock Position in Coupang, Inc. (NYSE:CPNG)

PNC Financial Services Group Inc. boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,235 shares of the company’s stock after purchasing an additional 4,800 shares during the period. PNC Financial Services Group Inc.’s holdings in Coupang were worth $5,898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPNG. Asset Dedication LLC increased its stake in shares of 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. Van ECK Associates Corp boosted its holdings in Coupang by 63.1% in the third 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. GAMMA Investing LLC increased its position in Coupang by 308.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after purchasing an additional 1,470 shares during the period. Wolff Wiese Magana LLC raised its holdings in Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Coupang by 438.9% in the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after purchasing an additional 1,931 shares during the period. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Up 1.3 %

Shares of NYSE:CPNG opened at $24.32 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 stock has a fifty day simple moving average of $24.99 and a two-hundred day simple moving average of $22.94. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91. The stock has a market capitalization of $43.75 billion, a price-to-earnings ratio of 42.67, a PEG ratio of 216.02 and a beta of 1.10.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the previous year, the firm earned $0.05 EPS. Coupang’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, research analysts anticipate that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Transactions at Coupang

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Monday, October 7th. CLSA raised Coupang from a “hold” rating to an “outperform” rating and increased their target price for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Coupang presently has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang 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.