Coupang, Inc. $CPNG Shares Sold by D.A. Davidson & CO.

Key Points

• D.A. Davidson & CO. cut its stake in Coupang by 57.5%, selling 87,628 shares and leaving it with 64,706 shares valued at about $1.53 million.
• Director Neil Mehta purchased 2,332,863 shares at $18.40 each (~$42.9 million), increasing his direct ownership to 55,310,977 shares (≈$1.02 billion), and insiders bought 7.35 million shares in the last quarter.
• Analysts are mixed with a consensus "Hold" and an average target of $27.30, while Coupang recently missed estimates (EPS -$0.01 vs. $0.02 expected; revenue $8.84B vs. $9.12B expected).

D.A. Davidson & CO. reduced its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 57.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,706 shares of the company's stock after selling 87,628 shares during the period. D.A. Davidson & CO.'s holdings in Coupang were worth $1,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CPNG. Vanguard Group Inc. increased its position in Coupang by 343.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company's stock valued at $920,786,000 after buying an additional 22,147,432 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Coupang by 198.8% in the third quarter. Bank of America Corp DE now owns 5,510,247 shares of the company's stock valued at $177,430,000 after purchasing an additional 3,666,227 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Coupang by 249.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,685,047 shares of the company's stock valued at $150,859,000 after purchasing an additional 3,343,171 shares during the period. State Street Corp increased its holdings in shares of Coupang by 21.2% in the third quarter. State Street Corp now owns 18,964,373 shares of the company's stock valued at $610,653,000 after purchasing an additional 3,322,598 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Coupang by 46.3% in the third quarter. Northern Trust Corp now owns 8,911,334 shares of the company's stock valued at $286,945,000 after purchasing an additional 2,819,768 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of research reports. Nomura cut their price objective on Coupang from $22.00 to $20.00 and set a "neutral" rating on the stock in a report on Monday, March 2nd. UBS Group set a $25.00 price objective on Coupang in a report on Thursday, February 19th. Morgan Stanley cut their price objective on Coupang from $31.00 to $29.00 and set an "overweight" rating on the stock in a report on Monday, March 2nd. Citigroup cut their price objective on Coupang from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, February 10th. Finally, Weiss Ratings lowered Coupang from a "hold (c)" rating to a "sell (d+)" rating in a report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $27.30.

Insider Buying and Selling

In related news, Director Neil Mehta bought 2,332,863 shares of the company's stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of $18.40 per share, with a total value of $42,924,679.20. Following the completion of the acquisition, the director directly owned 55,310,977 shares in the company, valued at approximately $1,017,721,976.80. The trade was a 4.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 7,350,104 shares of company stock worth $136,566,051 over the last quarter. 12.78% of the stock is owned by company insiders.

Coupang Stock Up 3.0%

Coupang stock opened at $20.58 on Friday. The firm has a market cap of $37.63 billion, a price-to-earnings ratio of 171.54 and a beta of 1.20. Coupang, Inc. has a 52 week low of $16.74 and a 52 week high of $34.08. The business's 50-day moving average price is $19.54 and its 200 day moving average price is $22.96. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $8.84 billion for the quarter, compared to analyst estimates of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.The firm's revenue was up 10.9% on a year-over-year basis. During the same period last year, the business earned $0.04 earnings per share. As a group, sell-side analysts anticipate that Coupang, Inc. will post -0.15 earnings per share for the current year.

Coupang Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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