Bank of New York Mellon Corp Trims Position in Coupang, Inc. $CPNG

Bank of New York Mellon Corp lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 7.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,710,511 shares of the company’s stock after selling 231,247 shares during the quarter. Bank of New York Mellon Corp’s holdings in Coupang were worth $81,207,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Nomura upgraded shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, August 6th. Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Mizuho lifted their target price on Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday. Wall Street Zen lowered Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Arete Research began coverage on Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.56.

Insider Activity at Coupang

In related news, VP Pranam Kolari sold 11,653 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $31.98, for a total transaction of $372,662.94. Following the sale, the vice president owned 147,023 shares in the company, valued at $4,701,795.54. This represents a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.79, for a total value of $2,093,976.50. Following the sale, the chief financial officer owned 2,016,940 shares in the company, valued at $56,050,762.60. The trade was a 3.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 988,983 shares of company stock valued at $31,237,061 in the last ninety days. 12.78% of the stock is owned by insiders.

Coupang Stock Down 0.3%

Shares of NYSE CPNG opened at $28.90 on Friday. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08. The firm has a market cap of $52.69 billion, a price-to-earnings ratio of 137.64 and a beta of 1.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 1.06. The stock’s 50-day simple moving average is $31.61 and its 200-day simple moving average is $29.40.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.13 billion. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. As a group, equities analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Coupang 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.