Park National Corp OH Sells 450 Shares of Coupang, Inc. (NYSE:CPNG)

Park National Corp OH lowered its holdings in Coupang, Inc. (NYSE:CPNG) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,851 shares of the company’s stock after selling 450 shares during the period. Park National Corp OH’s holdings in Coupang were worth $217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Handelsbanken Fonder AB raised its position in shares of Coupang by 2.9% in the third quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock valued at $21,706,000 after buying an additional 24,553 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Coupang by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock valued at $18,640,000 after acquiring an additional 138,416 shares in the last quarter. abrdn plc raised its holdings in Coupang by 40.2% in the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock valued at $4,968,000 after acquiring an additional 58,060 shares in the last quarter. Plotkin Financial Advisors LLC bought a new stake in shares of Coupang during the 3rd quarter valued at $491,000. Finally, Coronation Fund Managers Ltd. increased its position in shares of Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after purchasing an additional 2,802,325 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Price Performance

Shares of NYSE:CPNG opened at $22.31 on Thursday. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91. 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 cap of $40.13 billion, a price-to-earnings ratio of 39.14, a PEG ratio of 215.03 and a beta of 1.10. The firm has a 50 day simple moving average of $23.92 and a 200 day simple moving average of $23.25.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Monday, October 7th. 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 report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Insiders Place Their Bets

In other news, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction on 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 approximately $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction that occurred on Monday, November 11th. The stock was acquired 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 $1,269,652,265.84. The trade was a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

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.