Coupang, Inc. (NYSE:CPNG) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 29.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,863,458 shares of the company's stock after selling 779,469 shares during the period. Ameriprise Financial Inc. owned approximately 0.10% of Coupang worth $40,959,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CPNG. Norges Bank purchased a new stake in Coupang during the 4th quarter valued at about $404,896,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Coupang by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after purchasing an additional 17,123,637 shares during the period. Coronation Fund Managers Ltd. boosted its position in Coupang by 53.3% in the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company's stock valued at $162,292,000 after buying an additional 2,566,581 shares during the last quarter. FMR LLC boosted its position in Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company's stock valued at $651,038,000 after buying an additional 2,465,973 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new position in Coupang in the 4th quarter worth approximately $46,388,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Price Performance

CPNG traded up $0.27 during trading on Wednesday, hitting $26.83. The company's stock had a trading volume of 15,981,167 shares, compared to its average volume of 7,794,504. The firm has a market capitalization of $48.44 billion, a price-to-earnings ratio of 47.07, a P/E/G ratio of 52.20 and a beta of 1.08. Coupang, Inc. has a twelve month low of $18.16 and a twelve month high of $27.03. The business's fifty day simple moving average is $22.73 and its 200 day simple moving average is $23.43. 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 - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The company had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. Coupang's quarterly revenue was up 11.2% on a year-over-year basis. On average, equities research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on CPNG. Mizuho upgraded shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Barclays upped their price target on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.19.

Insider Transactions at Coupang

In other news, CFO Gaurav Anand sold 75,350 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $26.10, for a total transaction of $1,966,635.00. Following the completion of the sale, the chief financial officer now owns 2,267,290 shares of the company's stock, valued at $59,176,269. This represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the completion of the transaction, the insider now directly owns 319,542,259 shares in the company, valued at approximately $8,228,213,169.25. This represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,334,697 shares of company stock valued at $780,547,061 over the last 90 days. Corporate insiders own 13.60% of the company's stock.

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.