PNC Financial Services Group Inc. Acquires 4,800 Shares of Coupang, Inc. (NYSE:CPNG)

PNC Financial Services Group Inc. raised its stake in Coupang, Inc. (NYSE:CPNG) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other large investors have also recently bought and sold shares of the stock. Asset Dedication LLC raised its holdings in Coupang by 438.1% in the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after acquiring an additional 990 shares in the last quarter. Van ECK Associates Corp increased its stake 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 during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Coupang by 308.2% in 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 in the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of Coupang by 330.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after buying an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC grew its position in Coupang by 438.9% in the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after acquiring an additional 1,931 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CPNG. CLSA raised shares of 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 report on Wednesday, September 4th. 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 note on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Insider Transactions at Coupang

In other Coupang news, 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 completion of the sale, the chief executive officer now directly owns 2,000,000 shares in the company, 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 SEC, which is available at this hyperlink. Also, Director Greenoaks Capital Partners Llc acquired 750,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the acquisition, the director now owns 52,038,723 shares of the company’s stock, valued at approximately $1,249,449,739.23. This trade represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Coupang Stock Performance

NYSE CPNG opened at $24.32 on Friday. The company has a market capitalization of $43.75 billion, a PE ratio of 42.67, a price-to-earnings-growth ratio of 216.02 and a beta of 1.10. The company has a 50-day simple moving average of $24.99 and a 200 day simple moving average of $22.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $26.91.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 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 business had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter last year, the company earned $0.05 EPS. The firm’s revenue was up 27.2% compared to the same quarter last year. On average, research analysts predict that Coupang, Inc. will post 0.11 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.