M&T Bank Corp Trims Position in Coupang, Inc. (NYSE:CPNG)

M&T Bank Corp cut its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 12.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,221 shares of the company's stock after selling 48,077 shares during the quarter. M&T Bank Corp's holdings in Coupang were worth $7,767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Davidson Kahn Capital Management LLC grew its stake in shares of Coupang by 31.6% in the first quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock valued at $2,271,000 after buying an additional 24,877 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Coupang by 40.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock worth $6,776,000 after purchasing an additional 87,412 shares during the period. Deutsche Bank AG boosted its position in Coupang by 25.7% during the fourth quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock worth $1,997,000 after purchasing an additional 18,593 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Coupang during the first quarter worth $241,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Coupang during the fourth quarter worth $1,394,000. 83.72% of the stock is owned by institutional investors.

Coupang Trading Down 1.2%

Shares of Coupang stock traded down $0.37 on Friday, hitting $30.08. The stock had a trading volume of 5,237,257 shares, compared to its average volume of 8,336,634. The stock has a 50 day moving average of $28.19 and a 200 day moving average of $24.68. Coupang, Inc. has a twelve month low of $18.16 and a twelve month high of $30.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.16. The firm has a market capitalization of $54.61 billion, a P/E ratio of 214.86 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last announced its earnings results 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 business had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $8.02 billion. Coupang had a net margin of 0.82% and a return on equity of 10.07%. The firm's revenue was up 11.2% on a year-over-year basis. Sell-side analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Coupang

In related news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were acquired at an average cost of $26.78 per share, with a total value of $20,085,000.00. Following the purchase, the director directly owned 54,481,161 shares of the company's stock, valued at approximately $1,459,005,491.58. This trade represents a 1.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gaurav Anand sold 175,000 shares of Coupang 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 $58,814,271.90. This trade represents a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,459,697 shares of company stock worth $1,067,780,811 in the last quarter. 12.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

CPNG has been the subject of a number of analyst reports. Wall Street Zen raised Coupang from a "hold" rating to a "buy" rating in a research note on Saturday. Mizuho raised Coupang to a "hold" rating in a report on Friday, April 18th. Finally, Barclays raised their target price on Coupang from $35.00 to $36.00 and gave the company 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 stock. According to MarketBeat, Coupang currently has an average rating of "Moderate Buy" and an average price target 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.