Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Envestnet Portfolio Solutions Inc. lowered its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 72.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,170 shares of the company's stock after selling 37,061 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Coupang were worth $311,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Grove Bank & Trust purchased a new position in shares of Coupang in the first quarter valued at approximately $33,000. Itau Unibanco Holding S.A. lifted its holdings in Coupang by 520.6% in the 4th 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 in the last quarter. TD Waterhouse Canada Inc. boosted its stake 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 purchasing an additional 1,429 shares during the last quarter. Signaturefd LLC grew 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 worth $70,000 after buying an additional 822 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Coupang during the first quarter worth $78,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Trading Down 1.2%

Coupang stock traded down $0.36 during midday trading on Monday, hitting $30.45. 1,209,934 shares of the stock were exchanged, compared to its average volume of 9,185,348. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The stock's 50-day simple moving average is $26.77 and its 200 day simple moving average is $24.20. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $30.91. The stock has a market capitalization of $55.29 billion, a price-to-earnings ratio of 217.51 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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% on a year-over-year basis. On average, equities analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling

In other Coupang news, CFO Gaurav Anand sold 75,350 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $26.10, for a total value of $1,966,635.00. Following the transaction, the chief financial officer now owns 2,267,290 shares of the company's stock, valued at $59,176,269. This represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Greenoaks Capital Partners Llc purchased 750,000 shares of Coupang stock in a transaction dated Wednesday, May 14th. The stock was bought at an average cost of $26.78 per share, for a total transaction of $20,085,000.00. Following the completion of the purchase, the director now directly owns 54,481,161 shares in the company, valued at approximately $1,459,005,491.58. This trade represents a 1.40% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 40,459,697 shares of company stock worth $1,067,780,811. Company insiders own 12.78% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday. Mizuho raised shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Finally, Barclays boosted 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. Two investment analysts have rated the stock with a hold rating and five 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.

About Coupang

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.