M&T Bank Corp Buys 59,013 Shares of Coupang, Inc. $CPNG

Key Points

• M&T Bank Corp increased its stake in Coupang by 22.7% in Q4, buying 59,013 shares to hold 318,971 shares valued at about $7.53 million.
• Director Neil Mehta bought 3,000,000 shares at $18.68 (≈$56.0M) on March 12; insiders purchased 7,350,104 shares in the last three months and now own 12.78% of the company.
• Coupang reported Q1 EPS of -$0.15 (missing estimates of -$0.09) while revenue slightly beat at $8.50B (+7.5% YoY); analysts have a consensus "Hold" rating with an average target of $27.30.

M&T Bank Corp raised its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 22.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 318,971 shares of the company's stock after purchasing an additional 59,013 shares during the period. M&T Bank Corp's holdings in Coupang were worth $7,525,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CPNG. Massachusetts Financial Services Co. MA boosted its position in shares of Coupang by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,215,142 shares of the company's stock worth $361,128,000 after purchasing an additional 318,115 shares during the period. TRB Advisors LP bought a new position in shares of Coupang in the third quarter worth approximately $1,863,000. New York State Common Retirement Fund boosted its position in shares of Coupang by 18.5% in the third quarter. New York State Common Retirement Fund now owns 728,861 shares of the company's stock worth $23,469,000 after purchasing an additional 113,950 shares during the period. Rit Capital Partners PLC boosted its position in shares of Coupang by 3.5% in the third quarter. Rit Capital Partners PLC now owns 2,700,750 shares of the company's stock worth $86,937,000 after purchasing an additional 91,550 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Coupang by 343.5% in the third quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company's stock worth $920,786,000 after purchasing an additional 22,147,432 shares during the period. Institutional investors own 83.72% of the company's stock.

Coupang Price Performance

Shares of NYSE:CPNG opened at $20.77 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 1.04. The firm has a fifty day moving average price of $19.58 and a 200 day moving average price of $22.82. Coupang, Inc. has a fifty-two week low of $16.74 and a fifty-two week high of $34.08. The firm has a market cap of $37.98 billion, a price-to-earnings ratio of 173.13 and a beta of 1.20.

Coupang (NYSE:CPNG - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.06). Coupang had a return on equity of 4.52% and a net margin of 0.60%.The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the prior year, the company posted $0.06 EPS. Coupang's revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts expect that Coupang, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Coupang

In related news, Director Neil Mehta bought 3,000,000 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $18.68 per share, for a total transaction of $56,040,000.00. Following the completion of the transaction, the director owned 52,978,114 shares in the company, valued at $989,631,169.52. The trade was a 6.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

CPNG has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Coupang from $24.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Mizuho dropped their price target on shares of Coupang from $32.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, February 27th. Morgan Stanley dropped their price target on shares of Coupang from $31.00 to $29.00 and set an "overweight" rating for the company in a research report on Monday, March 2nd. Nomura dropped their price target on shares of Coupang from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, March 2nd. Finally, Wall Street Zen lowered shares of Coupang from a "hold" rating to a "strong sell" rating in a research report on Saturday, March 14th. 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $27.30.

About Coupang

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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