Bank of Montreal Can Sells 57,914 Shares of Coupang, Inc. $CPNG

Bank of Montreal Can decreased its stake in Coupang, Inc. (NYSE:CPNG) by 52.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,361 shares of the company’s stock after selling 57,914 shares during the period. Bank of Montreal Can’s holdings in Coupang were worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPNG. Cerity Partners LLC boosted its holdings in Coupang by 42.0% in the first quarter. Cerity Partners LLC now owns 30,549 shares of the company’s stock valued at $670,000 after acquiring an additional 9,042 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of Coupang by 8.5% in the 1st quarter. Bleakley Financial Group LLC now owns 15,709 shares of the company’s stock worth $344,000 after purchasing an additional 1,232 shares during the period. Sigma Planning Corp bought a new stake in shares of Coupang in the 1st quarter valued at $339,000. Victory Capital Management Inc. increased its position in shares of Coupang by 7.4% during the first quarter. Victory Capital Management Inc. now owns 96,433 shares of the company’s stock worth $2,115,000 after buying an additional 6,646 shares during the period. Finally, Allen Capital Group LLC raised its stake in Coupang by 9.3% during the first quarter. Allen Capital Group LLC now owns 19,583 shares of the company’s stock worth $429,000 after buying an additional 1,660 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Performance

Shares of Coupang stock opened at $28.53 on Friday. The business has a 50-day simple moving average of $31.63 and a 200 day simple moving average of $29.51. Coupang, Inc. has a one year low of $19.02 and a one year high of $34.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 0.82. The firm has a market capitalization of $52.01 billion, a price-to-earnings ratio of 135.86 and a beta of 1.17.

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

Insider Transactions at Coupang

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 815,797 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the transaction, the director directly owned 503,624 shares in the company, valued at $16,055,533.12. This trade represents a 61.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 913,633 shares of company stock valued at $29,143,084 in the last 90 days. 12.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CPNG has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on shares of Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Bank of America upped their target price on Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Arete Research initiated coverage on Coupang in a research note on Thursday, September 18th. They set a “buy” rating and a $40.00 target price for the company. Arete initiated coverage on Coupang in a research note on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Barclays increased their price target on Coupang from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

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.