Coupang, Inc. (NYSE:CPNG) Shares Sold by Ledyard National Bank

Ledyard National Bank reduced its stake in shares of Coupang, Inc. (NYSE:CPNG) by 30.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,109 shares of the company’s stock after selling 12,891 shares during the period. Ledyard National Bank’s holdings in Coupang were worth $739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bleakley Financial Group LLC increased its position in shares of Coupang by 17.9% during the first quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock worth $318,000 after acquiring an additional 2,710 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Coupang by 2.9% during the third quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock worth $21,706,000 after purchasing an additional 24,553 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Coupang by 5.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,237,250 shares of the company’s stock worth $39,801,000 after buying an additional 110,700 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Coupang by 55.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after buying an additional 1,615,448 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in shares of Coupang by 767.9% during the first quarter. GSA Capital Partners LLP now owns 108,990 shares of the company’s stock worth $1,939,000 after buying an additional 96,432 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CPNG shares. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Monday, October 7th. Morgan Stanley increased their target price on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Finally, CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and increased their target price for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Coupang has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Insider Buying and Selling at Coupang

In other Coupang news, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now owns 170,356 shares in the company, valued at $3,390,084.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Coupang news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now owns 170,356 shares in the company, valued at $3,390,084.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc acquired 251,300 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $22.58 per share, for a total transaction of $5,674,354.00. Following the acquisition, the director now directly owns 50,126,224 shares in the company, valued at $1,131,850,137.92. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 601,300 shares of company stock worth $13,604,354 and have sold 411,388 shares worth $9,452,761. 13.60% of the stock is owned by company insiders.

Coupang Stock Down 0.3 %

CPNG stock opened at $24.98 on Wednesday. The stock has a market capitalization of $44.66 billion, a P/E ratio of 35.69, a PEG ratio of 282.07 and a beta of 1.11. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.28. The company has a 50 day moving average price of $23.86 and a two-hundred day moving average price of $22.38.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. Coupang’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the business earned $0.08 EPS. As a group, sell-side analysts expect that Coupang, Inc. will post 0.09 EPS for the current year.

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.