Bank of New York Mellon Corp Grows Position in Coupang, Inc. (NYSE:CPNG)

Bank of New York Mellon Corp boosted its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 3.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 0.16% of Coupang worth $64,513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Grove Bank & Trust bought a new stake in Coupang during the 1st quarter valued at $33,000. Itau Unibanco Holding S.A. raised its stake in Coupang by 520.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after acquiring an additional 1,640 shares during the period. TD Waterhouse Canada Inc. raised its position in shares of Coupang by 142.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after buying an additional 1,429 shares during the last quarter. Signaturefd LLC increased its position in Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock worth $70,000 after purchasing an additional 822 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Coupang by 23.3% during the first 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 period. 83.72% of the stock is owned by institutional investors.

Coupang Stock Up 1.6%

Shares of CPNG traded up $0.48 during mid-day trading on Tuesday, reaching $31.09. The company's stock had a trading volume of 8,069,375 shares, compared to its average volume of 8,347,300. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 0.90. Coupang, Inc. has a 12-month low of $18.16 and a 12-month high of $31.42. The company's 50 day moving average is $28.33 and its 200 day moving average is $24.75. The stock has a market cap of $56.45 billion, a PE ratio of 222.07 and a beta of 1.16.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on CPNG shares. Wall Street Zen upgraded Coupang from a "hold" rating to a "buy" rating in a research note on Saturday. Mizuho raised Coupang to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays increased their price target on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.08.

Insider Buying and Selling

In related news, CFO Gaurav Anand sold 175,000 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the completion of the sale, the chief financial officer directly owned 2,092,290 shares in the company, valued at $58,814,271.90. This represents a 7.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Benjamin Sun sold 200,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the sale, the director directly owned 1,319,421 shares in the company, valued at approximately $37,418,779.56. The trade was a 13.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,459,697 shares of company stock valued at $1,067,780,811. 12.78% of the stock is owned by company insiders.

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.