Wedmont Private Capital Decreases Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Wedmont Private Capital cut its stake in Coupang, Inc. (NYSE:CPNG) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CPNG. Brooklyn Investment Group acquired a new position in Coupang during the third quarter worth about $28,000. Asset Dedication LLC raised its position in shares of Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after purchasing an additional 990 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after buying an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Coupang by 438.9% during the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after buying an additional 1,931 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Citigroup reduced their price objective 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 upgraded 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 research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.56.

Insider Buying and Selling at Coupang

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

Coupang Trading Up 1.9 %

Shares of CPNG stock opened at $21.75 on Tuesday. The firm’s 50-day simple moving average is $23.69 and its 200-day simple moving average is $23.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $26.91. The firm has a market cap of $39.13 billion, a P/E ratio of 38.16, a PEG ratio of 215.03 and a beta of 1.10.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. Coupang’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the business earned $0.05 EPS. As a group, equities analysts forecast that Coupang, Inc. will post 0.11 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.