Citigroup Inc. Has $16.68 Million Stock Position in Coupang, Inc. $CPNG

Citigroup Inc. lessened its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 54.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 760,636 shares of the company's stock after selling 923,949 shares during the period. Citigroup Inc.'s holdings in Coupang were worth $16,681,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Coupang in the first quarter valued at about $30,000. Grove Bank & Trust acquired a new position in Coupang during the 1st quarter worth about $33,000. Itau Unibanco Holding S.A. lifted its position 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 buying an additional 1,640 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after buying an additional 1,429 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Coupang by 23.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company's stock worth $70,000 after buying an additional 606 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Coupang Trading Up 2.5%

Shares of NYSE:CPNG traded up $0.71 during mid-day trading on Monday, reaching $28.85. The stock had a trading volume of 2,977,571 shares, compared to its average volume of 9,439,772. The firm has a market cap of $52.60 billion, a PE ratio of 143.73 and a beta of 1.16. The firm has a 50 day simple moving average of $29.43 and a two-hundred day simple moving average of $25.97. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $31.65.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The firm had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The business's revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 earnings per share. On average, research analysts predict that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price on the stock. in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Barclays upped their target price on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coupang has an average rating of "Moderate Buy" and a consensus target price of $30.57.

Insider Activity

In related news, Director Benjamin Sun sold 200,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total value of $5,672,000.00. Following the sale, the director directly owned 1,319,421 shares in the company, valued at $37,418,779.56. This trade represents a 13.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $28.25, for a total transaction of $282,500,000.00. Following the completion of the sale, the insider owned 309,542,259 shares in the company, valued at $8,744,568,816.75. This represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,462,003 shares of company stock valued at $295,524,795. Insiders own 12.78% of the company's stock.

Coupang Company 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.