US Bancorp DE Sells 50,841 Shares of Coupang, Inc. $CPNG

US Bancorp DE lessened its stake in Coupang, Inc. (NYSE:CPNG) by 20.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,955 shares of the company’s stock after selling 50,841 shares during the quarter. US Bancorp DE’s holdings in Coupang were worth $5,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Albion Financial Group UT purchased a new position in shares of Coupang in the 2nd quarter worth about $30,000. SVB Wealth LLC purchased a new position in shares of Coupang in the 1st quarter worth about $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Coupang in the 1st quarter worth about $30,000. Grove Bank & Trust purchased a new position in shares of Coupang in the 1st quarter worth about $33,000. Finally, Brooklyn Investment Group raised its position in shares of Coupang by 43.1% in 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. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CPNG. Morgan Stanley lifted their price target on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Arete started coverage on Coupang in a research report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target for the company. Nomura Securities upgraded Coupang to a “strong-buy” rating in a report on Wednesday, August 6th. Wall Street Zen downgraded Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.50.

Insider Buying and Selling at Coupang

In other Coupang news, Director Benjamin Sun sold 815,797 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director directly owned 503,624 shares in the company, valued at $16,055,533.12. The trade was a 61.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Pranam Kolari sold 11,653 shares of the business’s 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 sale, the vice president owned 158,676 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is owned by corporate insiders.

Coupang Price Performance

NYSE CPNG opened at $31.26 on Monday. The stock has a 50-day moving average of $30.49 and a 200 day moving average of $28.00. The company has a market capitalization of $56.98 billion, a price-to-earnings ratio of 156.28 and a beta of 1.18. 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 0.18, a quick ratio of 0.84 and a current ratio of 1.09.

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