Bank of America Corp DE Lowers Stake in Coupang, Inc. (NYSE:CPNG)

Bank of America Corp DE lessened its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 79.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 883,017 shares of the company's stock after selling 3,456,658 shares during the quarter. Bank of America Corp DE's holdings in Coupang were worth $19,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wingate Wealth Advisors Inc. bought a new stake in shares of Coupang in the fourth quarter worth about $26,000. Berbice Capital Management LLC bought a new stake in shares of Coupang during the fourth quarter valued at approximately $31,000. Itau Unibanco Holding S.A. increased its position in shares of Coupang by 520.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after acquiring an additional 1,640 shares in the last quarter. Allworth Financial LP increased its position in shares of Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after acquiring an additional 1,986 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in Coupang by 142.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after purchasing an additional 1,429 shares during the period. 83.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Greenoaks Capital Partners Llc acquired 650,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $26.86 per share, with a total value of $17,459,000.00. Following the transaction, the director now owns 55,131,161 shares of the company's stock, valued at approximately $1,480,822,984.46. This trade represents a 1.19% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Pranam Kolari sold 9,347 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total transaction of $222,925.95. Following the transaction, the vice president now directly owns 177,106 shares of the company's stock, valued at $4,223,978.10. The trade was a 5.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,334,697 shares of company stock worth $780,547,061 in the last 90 days. Insiders own 13.60% of the company's stock.

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of recent research reports. Mizuho raised shares of Coupang to a "hold" rating in a research report on Friday, April 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price on the stock in a research report on Wednesday, February 26th. Finally, Barclays increased their price objective on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Coupang presently has an average rating of "Moderate Buy" and an average target price of $29.64.

Coupang Stock Performance

NYSE:CPNG traded up $0.19 during mid-day trading on Friday, hitting $27.47. The company's stock had a trading volume of 8,709,151 shares, compared to its average volume of 7,930,622. The business's fifty day moving average is $23.47 and its two-hundred day moving average is $23.50. The stock has a market cap of $49.87 billion, a price-to-earnings ratio of 48.19, a PEG ratio of 52.20 and a beta of 1.08. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $27.73. 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 (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The firm had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company's quarterly revenue was up 11.2% compared to the same quarter last year. Analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

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.