Coupang, Inc. (NYSE:CPNG) Shares Sold by M&T Bank Corp

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

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Coupang by 20.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 913,789 shares of the company's stock valued at $20,085,000 after purchasing an additional 154,503 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Coupang during the 4th quarter valued at about $854,000. PNC Financial Services Group Inc. lifted its holdings in shares of Coupang by 4.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 250,354 shares of the company's stock valued at $5,503,000 after buying an additional 10,119 shares during the period. Amundi boosted its stake in shares of Coupang by 34.5% in the fourth quarter. Amundi now owns 377,879 shares of the company's stock worth $8,419,000 after buying an additional 96,848 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Coupang by 10.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 19,032 shares of the company's stock worth $418,000 after buying an additional 1,725 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Price Performance

CPNG stock traded down $0.37 during mid-day trading on Friday, reaching $30.08. 5,237,257 shares of the company's stock were exchanged, compared to its average volume of 8,320,133. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 0.90. Coupang, Inc. has a 12-month low of $18.16 and a 12-month high of $30.91. The stock's 50 day moving average is $28.19 and its 200 day moving average is $24.67. The company has a market cap of $54.61 billion, a price-to-earnings 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 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 business had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $8.02 billion. The company's revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts expect that Coupang, Inc. will post 0.17 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on CPNG. Barclays boosted their price target on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Finally, Mizuho raised shares of Coupang to a "hold" rating in a report on Friday, April 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Coupang currently has a consensus rating of "Moderate Buy" and an average target price of $30.08.

Insider Activity at Coupang

In other news, CFO Gaurav Anand sold 175,000 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the completion of the sale, the chief financial officer owned 2,092,290 shares of the company's stock, valued at $58,814,271.90. The trade was a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 54,481,161 shares in the company, valued at $1,459,005,491.58. This represents a 1.40% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 40,459,697 shares of company stock valued at $1,067,780,811 in the last three months. Company insiders own 12.78% of the company's stock.

Coupang Company 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.