Coupang, Inc. (NYSE:CPNG) Stake Reduced by US Bancorp DE

US Bancorp DE decreased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 255,846 shares of the company’s stock after selling 6,874 shares during the period. US Bancorp DE’s holdings in Coupang were worth $6,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Coupang by 10.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 372,547 shares of the company’s stock worth $6,628,000 after acquiring an additional 35,703 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Coupang by 115.9% in the first quarter. Commonwealth Equity Services LLC now owns 75,211 shares of the company’s stock worth $1,338,000 after buying an additional 40,376 shares during the period. Private Advisor Group LLC increased its position in shares of Coupang by 2.2% in the first quarter. Private Advisor Group LLC now owns 48,088 shares of the company’s stock worth $855,000 after acquiring an additional 1,036 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Coupang during the first quarter valued at approximately $1,049,000. Finally, GSA Capital Partners LLP lifted its position in shares of Coupang by 767.9% in the 1st quarter. GSA Capital Partners LLP now owns 108,990 shares of the company’s stock valued at $1,939,000 after acquiring an additional 96,432 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Coupang Stock Down 1.5 %

CPNG opened at $25.40 on Monday. The company has a market capitalization of $45.56 billion, a PE ratio of 43.79 and a beta of 1.10. The business has a 50-day moving average of $24.39 and a 200-day moving average of $22.73. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $26.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. Equities research analysts forecast that Coupang, Inc. will post -0.03 EPS for the current fiscal year.

Insider Activity

In related news, CFO Gaurav Anand sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $22.75, for a total value of $4,550,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,937,500 shares in the company, valued at approximately $44,078,125. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Gaurav Anand sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $22.75, for a total value of $4,550,000.00. Following the sale, the chief financial officer now directly owns 1,937,500 shares of the company’s stock, valued at approximately $44,078,125. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greenoaks Capital Partners Llc acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $22.95 per share, with a total value of $2,295,000.00. Following the transaction, the director now directly owns 50,476,224 shares in the company, valued at $1,158,429,340.80. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 601,300 shares of company stock valued at $13,604,354 and have sold 400,956 shares valued at $9,245,164. 13.60% of the stock is currently owned by insiders.

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.