Fiduciary Trust Co Sells 60,000 Shares of Coupang, Inc. (NYSE:CPNG)

Fiduciary Trust Co lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,174,840 shares of the company’s stock after selling 60,000 shares during the quarter. Coupang makes up approximately 4.5% of Fiduciary Trust Co’s investment portfolio, making the stock its 4th largest position. Fiduciary Trust Co’s holdings in Coupang were worth $323,442,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in Coupang by 32.0% during the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after acquiring an additional 6,584,910 shares during the last quarter. Coronation Fund Managers Ltd. lifted its holdings in Coupang by 139.1% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after purchasing an additional 2,802,325 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Coupang by 1.6% in the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock valued at $3,589,783,000 after purchasing an additional 2,749,027 shares during the period. Envestnet Asset Management Inc. grew its holdings in Coupang by 2,570.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock valued at $42,931,000 after buying an additional 1,972,476 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Coupang by 55.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after buying an additional 1,615,448 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coupang

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

Coupang Stock Performance

NYSE CPNG opened at $25.49 on Thursday. The firm’s 50 day simple moving average is $25.06 and its 200 day simple moving average is $23.01. The firm has a market capitalization of $45.84 billion, a price-to-earnings ratio of 44.71, a P/E/G ratio of 225.02 and a beta of 1.10. 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, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. Coupang’s revenue was up 27.2% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. As a group, research analysts expect 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. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, October 7th. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and raised their target price for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

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.