Bank of New York Mellon Corp Has $64.51 Million Holdings in Coupang, Inc. (NYSE:CPNG)

Bank of New York Mellon Corp boosted its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,941,758 shares of the company's stock after purchasing an additional 111,556 shares during the quarter. Bank of New York Mellon Corp owned about 0.16% of Coupang worth $64,513,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CPNG. Grove Bank & Trust bought a new stake in Coupang in the 1st quarter valued at about $33,000. Itau Unibanco Holding S.A. lifted its position in Coupang by 520.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after purchasing an additional 1,640 shares during the last quarter. TD Waterhouse Canada Inc. lifted 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 valued at $53,000 after purchasing an additional 1,429 shares during the last quarter. Signaturefd LLC lifted its position in Coupang by 34.7% in the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after purchasing an additional 822 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Coupang by 23.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company's stock valued at $70,000 after purchasing an additional 606 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Coupang Price Performance

Shares of CPNG stock traded down $0.37 during midday trading on Friday, reaching $30.08. 5,237,257 shares of the company were exchanged, compared to its average volume of 8,320,133. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $30.91. The company has a market cap of $54.61 billion, a P/E ratio of 214.86 and a beta of 1.16. The company's 50 day moving average price is $28.19 and its two-hundred day moving average price is $24.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). Coupang had a return on equity of 10.07% and a net margin of 0.82%. The business had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.02 billion. The company's quarterly revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Gaurav Anand sold 175,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total value of $4,919,250.00. Following the sale, the chief financial officer directly owned 2,092,290 shares in the company, valued at $58,814,271.90. The trade was a 7.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Greenoaks Capital Partners Llc bought 650,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average price of $26.86 per share, for a total transaction of $17,459,000.00. Following the completion of the acquisition, the director directly owned 55,131,161 shares in the company, valued at approximately $1,480,822,984.46. This represents a 1.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 40,459,697 shares of company stock worth $1,067,780,811. Company insiders own 12.78% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of Coupang from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays boosted their price target 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. Finally, Mizuho upgraded shares of Coupang to a "hold" rating in a research report on Friday, April 18th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.08.

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.