Envestnet Asset Management Inc. Has $44.63 Million Stake in Coupang, Inc. (NYSE:CPNG)

Envestnet Asset Management Inc. trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 4.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,035,086 shares of the company's stock after selling 92,664 shares during the period. Envestnet Asset Management Inc. owned approximately 0.11% of Coupang worth $44,629,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Grove Bank & Trust acquired a new position in shares of Coupang during the first quarter valued at $33,000. Itau Unibanco Holding S.A. increased its holdings in shares of Coupang by 520.6% during the fourth 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 period. TD Waterhouse Canada Inc. increased its holdings 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 purchasing an additional 1,429 shares during the period. Signaturefd LLC increased its holdings in shares of Coupang by 34.7% during the fourth 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 period. Finally, Asset Management One Co. Ltd. boosted its stake in 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 buying an additional 606 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Coupang news, VP Pranam Kolari sold 9,347 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the sale, the vice president directly owned 177,106 shares in the company, valued at approximately $4,223,978.10. This trade represents a 5.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $28.25, for a total value of $282,500,000.00. Following the sale, the insider owned 309,542,259 shares of the company's stock, valued at $8,744,568,816.75. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,459,697 shares of company stock worth $1,067,780,811. Corporate insiders own 12.78% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CPNG. Wall Street Zen raised Coupang from a "hold" rating to a "buy" rating in a report on Saturday. Mizuho raised Coupang to a "hold" rating in a report on Friday, April 18th. Finally, Barclays lifted their target price on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.08.

Coupang Trading Down 1.2%

Shares of NYSE:CPNG traded down $0.37 during midday trading on Friday, reaching $30.08. The company had a trading volume of 5,237,257 shares, compared to its average volume of 8,336,634. 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, Inc. has a 1-year low of $18.16 and a 1-year high of $30.91. The firm has a market cap of $54.61 billion, a price-to-earnings ratio of 214.86 and a beta of 1.16. The company has a fifty day simple moving average of $28.19 and a two-hundred day simple moving average of $24.68.

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

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.