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

Ledyard National Bank decreased its stake in shares of Coupang, Inc. (NYSE:CPNG) by 24.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,500 shares of the company’s stock after selling 18,500 shares during the quarter. Ledyard National Bank’s holdings in Coupang were worth $947,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Simplicity Solutions LLC grew its position in Coupang by 23.5% during the third quarter. Simplicity Solutions LLC now owns 15,420 shares of the company’s stock valued at $262,000 after buying an additional 2,938 shares during the period. Xponance Inc. grew its position in Coupang by 1.7% during the third quarter. Xponance Inc. now owns 154,938 shares of the company’s stock valued at $2,634,000 after buying an additional 2,566 shares during the period. Bank of New York Mellon Corp grew its position in Coupang by 3.3% during the third quarter. Bank of New York Mellon Corp now owns 2,632,070 shares of the company’s stock valued at $44,745,000 after buying an additional 84,353 shares during the period. Mackenzie Financial Corp acquired a new stake in Coupang during the third quarter valued at $1,590,000. Finally, TD Asset Management Inc lifted its holdings in Coupang by 3.0% during the third quarter. TD Asset Management Inc now owns 402,380 shares of the company’s stock valued at $6,840,000 after purchasing an additional 11,874 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. TheStreet raised shares of Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Citigroup raised shares of Coupang from a “neutral” rating to a “buy” rating and raised their price target for the stock from $19.00 to $26.00 in a research note on Monday, April 15th. Barclays raised their price target on shares of Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and lifted their target price for the stock from $18.50 to $21.00 in a research note on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.42.

Insider Activity at Coupang

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the transaction, the insider now directly owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the sale, the insider now directly owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Pranam Kolari sold 2,356 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $13.88, for a total transaction of $32,701.28. Following the completion of the transaction, the insider now owns 182,844 shares in the company, valued at $2,537,874.72. The disclosure for this sale can be found here. Insiders sold a total of 33,355,590 shares of company stock worth $633,443,979 in the last 90 days. 14.90% of the stock is owned by insiders.

Coupang Stock Down 2.3 %

Shares of CPNG stock traded down $0.54 during trading on Tuesday, reaching $22.56. The company’s stock had a trading volume of 4,716,769 shares, compared to its average volume of 13,132,026. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90. The company has a market capitalization of $40.46 billion, a price-to-earnings ratio of 30.19 and a beta of 1.32. The stock’s 50-day moving average price is $19.13 and its 200 day moving average price is $17.03. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $23.40.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The company had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts anticipate that Coupang, Inc. will post 0.32 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.