Coupang, Inc. (NYSE:CPNG) Shares Sold by Wedmont Private Capital

Wedmont Private Capital cut its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 12.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,589 shares of the company’s stock after selling 8,873 shares during the period. Wedmont Private Capital’s holdings in Coupang were worth $1,314,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of Coupang by 35.9% in the 2nd quarter. Victory Capital Management Inc. now owns 111,543 shares of the company’s stock worth $2,337,000 after purchasing an additional 29,460 shares during the last quarter. Private Advisor Group LLC increased its holdings in Coupang by 14.9% in the second quarter. Private Advisor Group LLC now owns 55,262 shares of the company’s stock valued at $1,158,000 after buying an additional 7,174 shares during the last quarter. American Century Companies Inc. raised its stake in Coupang by 76.3% during the second quarter. American Century Companies Inc. now owns 1,294,098 shares of the company’s stock valued at $27,111,000 after buying an additional 559,945 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in Coupang by 46.7% during the 2nd quarter. Meeder Advisory Services Inc. now owns 15,164 shares of the company’s stock worth $318,000 after buying an additional 4,829 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Coupang by 167.4% in the 2nd quarter. Federated Hermes Inc. now owns 679,601 shares of the company’s stock worth $14,238,000 after acquiring an additional 425,416 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Up 1.9 %

CPNG stock opened at $21.75 on Tuesday. The firm’s 50-day moving average is $23.69 and its two-hundred day moving average is $23.28. The company has a market capitalization of $39.13 billion, a price-to-earnings ratio of 38.16, a price-to-earnings-growth ratio of 215.03 and a beta of 1.10. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. During the same period in the prior year, the firm posted $0.05 earnings per share. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, analysts forecast that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

CPNG has been the topic of several research reports. Citigroup dropped their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Insider Buying and Selling

In other Coupang news, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $22.97, for a total value of $344,550,000.00. Following the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at approximately $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the company’s stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the acquisition, the director now directly owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. This represents a 1.32 % increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is owned by corporate insiders.

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.