PNC Financial Services Group Inc. Grows Position in Coupang, Inc. (NYSE:CPNG)

PNC Financial Services Group Inc. raised its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 260,302 shares of the company's stock after acquiring an additional 9,948 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Coupang were worth $5,708,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Coupang during the 1st quarter worth $30,000. Grove Bank & Trust acquired a new stake in Coupang in the first quarter valued at $33,000. Itau Unibanco Holding S.A. boosted its position in shares of Coupang by 520.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after acquiring an additional 1,640 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Coupang by 142.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after acquiring an additional 1,429 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Coupang by 23.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company's stock valued at $70,000 after acquiring an additional 606 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analyst Weigh In

CPNG has been the subject of several recent analyst reports. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research report on Wednesday. Mizuho raised shares of Coupang to a "hold" rating in a research report on Friday, April 18th. Barclays lifted their price target on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.57.

Coupang Stock Performance

Shares of Coupang stock opened at $28.13 on Thursday. The firm's fifty day simple moving average is $29.46 and its 200-day simple moving average is $25.66. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $31.65. The stock has a market capitalization of $51.07 billion, a price-to-earnings ratio of 140.66 and a beta of 1.16. 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 (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.67%. The business had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, equities analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Activity

In other news, CFO Gaurav Anand sold 175,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was 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 in the company, valued at $58,814,271.90. This represents 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 through this link. Also, Director Benjamin Sun sold 200,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total value of $5,672,000.00. Following the sale, the director directly owned 1,319,421 shares of the company's stock, valued at approximately $37,418,779.56. This represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,462,003 shares of company stock worth $295,397,453 over the last quarter. 12.78% of the stock is owned by insiders.

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.

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