Mitsubishi UFJ Trust & Banking Corp Sells 229,947 Shares of Coupang, Inc. $CPNG

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,434,989 shares of the company's stock after selling 229,947 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Coupang worth $33,851,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CPNG. Sunbelt Securities Inc. bought a new stake in shares of Coupang in the third quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in shares of Coupang in the third quarter valued at about $32,000. Fifth Third Bancorp lifted its stake in shares of Coupang by 1,250.0% in the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company's stock valued at $35,000 after buying an additional 1,000 shares during the period. Root Financial Partners LLC bought a new stake in shares of Coupang in the third quarter valued at about $40,000. Finally, Colonial Trust Advisors bought a new stake in shares of Coupang in the third quarter valued at about $48,000. Institutional investors own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

CPNG has been the subject of several research reports. Sanford C. Bernstein reiterated an "underperform" rating on shares of Coupang in a research note on Monday, March 2nd. Morgan Stanley reduced their target price on shares of Coupang from $31.00 to $29.00 and set an "overweight" rating for the company in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $25.00 price target for the company in a research note on Friday, January 16th. Nomura cut their price target on shares of Coupang from $22.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, March 2nd. Finally, Wall Street Zen cut shares of Coupang from a "hold" rating to a "strong sell" rating in a research note on Saturday, March 14th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $27.30.

Coupang Stock Down 0.2%

Shares of CPNG opened at $20.30 on Thursday. The stock has a market cap of $37.12 billion, a price-to-earnings ratio of 169.21 and a beta of 1.16. 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, Inc. has a 12 month low of $16.74 and a 12 month high of $34.08. The company has a 50-day moving average price of $19.51 and a two-hundred day moving average price of $23.04.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). The business had revenue of $8.84 billion for the quarter, compared to the consensus estimate of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.The firm's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 EPS. Equities analysts predict that Coupang, Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Neil Mehta acquired 3,000,000 shares of the company's stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $18.68 per share, with a total value of $56,040,000.00. Following the completion of the acquisition, the director owned 52,978,114 shares in the company, valued at approximately $989,631,169.52. This represents a 6.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 7,350,104 shares of company stock worth $136,566,051 in the last three months. 12.78% of the stock is owned by company insiders.

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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