TD Asset Management Inc Lowers Holdings in Coupang, Inc. $CPNG

TD Asset Management Inc trimmed its position in Coupang, Inc. (NYSE:CPNG) by 82.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,730 shares of the company’s stock after selling 379,502 shares during the quarter. TD Asset Management Inc’s holdings in Coupang were worth $2,449,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CPNG. SVB Wealth LLC purchased a new stake in shares of Coupang during the 1st quarter worth $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Coupang during the 1st quarter worth $30,000. Albion Financial Group UT purchased a new stake in shares of Coupang during the 2nd quarter worth $30,000. Brooklyn Investment Group lifted its stake in shares of Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Coupang by 600.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company’s stock worth $55,000 after purchasing an additional 2,149 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Trading Down 0.9%

Coupang stock opened at $31.40 on Wednesday. The stock has a 50-day moving average of $30.93 and a two-hundred day moving average of $28.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. Coupang, Inc. has a one year low of $19.02 and a one year high of $34.08. The stock has a market cap of $57.24 billion, a PE ratio of 157.01 and a beta of 1.18.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The business had revenue of $8.52 billion during the quarter, compared to analysts’ expectations of $8.34 billion. During the same quarter last year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CPNG shares. Wall Street Zen cut Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Nomura Securities upgraded Coupang to a “strong-buy” rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a research note on Wednesday, August 6th. Arete Research started coverage on Coupang in a research note on Thursday, September 18th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and an average price target of $33.50.

Insiders Place Their Bets

In other news, Director Pedro Franceschi sold 21,428 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Pranam Kolari sold 11,653 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $29.14, for a total value of $339,568.42. Following the completion of the transaction, the vice president directly owned 158,676 shares in the company, valued at $4,623,818.64. This represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 988,983 shares of company stock valued at $31,203,966. Insiders own 12.78% of the company’s stock.

Coupang Company Profile

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.