Equitable Trust Co. Reduces Stock Position in Coupang, Inc. (NYSE:CPNG)

Equitable Trust Co. lowered its position in shares of Coupang, Inc. (NYSE:CPNG) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,946 shares of the company’s stock after selling 1,673 shares during the period. Equitable Trust Co.’s holdings in Coupang were worth $3,092,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC boosted its position in Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after buying an additional 990 shares during the period. Van ECK Associates Corp boosted its position in Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after buying an additional 484 shares during the period. GAMMA Investing LLC raised its holdings in Coupang by 308.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after purchasing an additional 1,470 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Coupang by 438.9% in the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after purchasing an additional 1,931 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Activity

In related news, CFO Gaurav Anand sold 200,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were 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 of the company’s stock, valued at $44,078,125. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coupang news, CFO Gaurav Anand sold 200,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $22.75, for a total value of $4,550,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Greenoaks Capital Partners Llc bought 100,000 shares of Coupang stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $22.39 per share, with a total value of $2,239,000.00. Following the completion of the acquisition, the director now directly owns 50,376,224 shares of the company’s stock, valued at $1,127,923,655.36. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 451,300 shares of company stock valued at $10,208,354 and sold 400,956 shares valued at $9,245,164. Insiders own 13.60% of the company’s stock.

Coupang Trading Down 3.6 %

Coupang stock opened at $24.21 on Friday. The stock has a market cap of $43.43 billion, a P/E ratio of 41.74 and a beta of 1.10. 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, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The firm’s 50 day moving average price is $24.64 and its 200-day moving average price is $22.81.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The company had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. Coupang’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 earnings per share. On average, equities analysts predict that Coupang, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Monday, October 7th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

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.