NewEdge Wealth LLC Buys 4,000 Shares of Coupang, Inc. (NYSE:CPNG)

NewEdge Wealth LLC grew its stake in Coupang, Inc. (NYSE:CPNG) by 22.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,815 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. NewEdge Wealth LLC’s holdings in Coupang were worth $353,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in shares of Coupang by 25.3% in the third quarter. Ameriprise Financial Inc. now owns 3,054,223 shares of the company’s stock valued at $51,922,000 after purchasing an additional 616,210 shares in the last quarter. M&T Bank Corp purchased a new position in Coupang in the third quarter worth $2,415,000. SG Americas Securities LLC boosted its position in Coupang by 1,509.1% in the fourth quarter. SG Americas Securities LLC now owns 163,159 shares of the company’s stock worth $2,642,000 after purchasing an additional 153,019 shares during the last quarter. Sapient Capital LLC purchased a new position in Coupang in the fourth quarter worth $2,486,000. Finally, AMS Capital Ltda purchased a new position in Coupang in the third quarter worth $2,729,000. Institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $18.50 to $21.00 in a research report on Thursday, February 29th. Citigroup raised Coupang from a “neutral” rating to a “buy” rating and upped their price target for the company from $19.00 to $26.00 in a research report on Monday. Barclays upped their price target on Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. UBS Group cut Coupang from a “buy” rating to a “neutral” rating and dropped their price target for the company from $26.00 to $18.50 in a research report on Wednesday, December 20th. Finally, TheStreet raised Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.42.

Insider Activity

In other news, Director Neil Mehta sold 1,600,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the transaction, the director now directly owns 48,006,135 shares in the company, valued at approximately $896,754,601.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Pranam Kolari sold 2,356 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $13.88, for a total transaction of $32,701.28. Following the completion of the sale, the insider now directly owns 182,844 shares in the company, valued at approximately $2,537,874.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Neil Mehta sold 1,600,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $18.68, for a total value of $29,888,000.00. Following the sale, the director now owns 48,006,135 shares of the company’s stock, valued at $896,754,601.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,355,590 shares of company stock worth $633,443,979. 14.90% of the stock is currently owned by insiders.

Coupang Stock Performance

NYSE:CPNG opened at $22.63 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $22.89. The firm has a market cap of $40.57 billion, a price-to-earnings ratio of 30.17 and a beta of 1.32. The business’s fifty day moving average is $17.92 and its 200 day moving average is $16.73.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.40 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. Research analysts predict that Coupang, Inc. will post 0.29 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.