Coupang, Inc. (NYSE:CPNG) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp significantly reduced its holdings in Coupang, Inc. by 54%, selling 101,263 shares during the first quarter, leaving it with 86,350 shares valued at approximately $1.89 million.
• Insider trading activity includes Coupang's CFO selling 175,000 shares for about $4.92 million, marking a 7.72% reduction in their ownership, while a director sold 200,000 shares for around $5.67 million.
• Coupang's stock has seen recent downgrades from analysts, leading to its current average rating of "Moderate Buy" with a price target of $30.08.

Mackenzie Financial Corp cut its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 54.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,350 shares of the company's stock after selling 101,263 shares during the quarter. Mackenzie Financial Corp's holdings in Coupang were worth $1,894,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CPNG. California State Teachers Retirement System boosted its holdings in Coupang by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 85,489 shares of the company's stock worth $1,879,000 after buying an additional 445 shares during the last quarter. Virtus ETF Advisers LLC lifted its position in shares of Coupang by 1.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company's stock valued at $975,000 after acquiring an additional 466 shares in the last quarter. Resonant Capital Advisors LLC boosted its stake in shares of Coupang by 4.2% in the first quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company's stock worth $258,000 after acquiring an additional 476 shares during the last quarter. National Bank of Canada FI increased its position in shares of Coupang by 8.6% during the fourth quarter. National Bank of Canada FI now owns 6,944 shares of the company's stock worth $153,000 after purchasing an additional 548 shares in the last quarter. Finally, Snowden Capital Advisors LLC raised its stake in Coupang by 1.2% in the 4th quarter. Snowden Capital Advisors LLC now owns 49,908 shares of the company's stock valued at $1,097,000 after purchasing an additional 603 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Gaurav Anand sold 175,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total value of $4,919,250.00. Following the completion of the transaction, the chief financial officer directly owned 2,092,290 shares in the company, valued at approximately $58,814,271.90. This represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Benjamin Sun sold 200,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was 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 of the company's stock, valued at approximately $37,418,779.56. This trade represents a 13.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,450,350 shares of company stock worth $1,067,557,885 in the last 90 days. 12.78% of the stock is owned by corporate insiders.

Coupang Stock Down 2.3%

NYSE CPNG opened at $28.75 on Monday. The business's fifty day simple moving average is $29.39 and its 200-day simple moving average is $25.56. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a market cap of $52.20 billion, a PE ratio of 205.36 and a beta of 1.16. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $31.65.

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

Wall Street Analyst Weigh In

CPNG has been the topic of several recent research reports. Mizuho raised shares of Coupang to a "hold" rating in a research note on Friday, April 18th. 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, Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.

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