ProShare Advisors LLC Decreases Stake in Coupang, Inc. (NYSE:CPNG)

ProShare Advisors LLC lessened its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 155,459 shares of the company's stock after selling 22,404 shares during the period. ProShare Advisors LLC's holdings in Coupang were worth $3,417,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its position in Coupang by 23.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company's stock valued at $4,861,000 after acquiring an additional 41,384 shares during the last quarter. Elevate Capital Advisors LLC bought a new position in Coupang during the fourth quarter valued at $2,618,000. New York Life Investment Management LLC bought a new position in Coupang during the fourth quarter valued at $349,000. Ninety One UK Ltd bought a new position in Coupang during the fourth quarter valued at $46,388,000. Finally, Vanguard Group Inc. increased its position in Coupang by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,366,214 shares of the company's stock valued at $117,949,000 after acquiring an additional 54,364 shares during the last quarter. Institutional investors own 83.72% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price for the company in a research note on Wednesday, February 26th. Mizuho raised shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Finally, Barclays upped their price objective 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $29.64.

Coupang Price Performance

CPNG traded up $0.19 during trading on Friday, reaching $27.47. 8,709,151 shares of the stock were exchanged, compared to its average volume of 7,930,622. The business's 50 day moving average price is $23.47 and its two-hundred day moving average price is $23.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The company has a market capitalization of $49.87 billion, a price-to-earnings ratio of 48.19, a P/E/G ratio of 52.20 and a beta of 1.08. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $27.73.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $8.02 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Pranam Kolari sold 9,347 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total value of $222,925.95. Following the sale, the vice president now directly owns 177,106 shares in the company, valued at $4,223,978.10. This trade represents a 5.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the sale, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This represents a 12.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,334,697 shares of company stock worth $780,547,061 over the last three months. 13.60% of the stock is owned by insiders.

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.