TD Asset Management Inc Sells 151,405 Shares of Coupang, Inc. (NYSE:CPNG)

Key Points

• TD Asset Management Inc reduced its holdings in Coupang, Inc. by 24.7%, selling 151,405 shares during the first quarter, leaving them with 461,232 shares valued at approximately $10.1 million.
• Several institutional investors, including Davidson Kahn Capital Management and Allspring Global Investments, have increased their stakes in Coupang during the same quarter, indicating growing institutional interest in the company.
• Coupang's stock currently has an average rating of "Moderate Buy" among analysts, with a target price of $30.08, as it faces a challenging market environment following a quarterly earnings miss.

TD Asset Management Inc reduced its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 24.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 461,232 shares of the company's stock after selling 151,405 shares during the quarter. TD Asset Management Inc's holdings in Coupang were worth $10,115,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CPNG. Davidson Kahn Capital Management LLC increased its position in shares of Coupang by 31.6% during the 1st quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock valued at $2,271,000 after purchasing an additional 24,877 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Coupang by 40.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock valued at $6,776,000 after purchasing an additional 87,412 shares during the last quarter. Deutsche Bank AG increased its position in shares of Coupang by 25.7% during the 4th quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock valued at $1,997,000 after purchasing an additional 18,593 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Coupang during the 1st quarter valued at about $241,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Coupang during the 4th quarter valued at about $1,394,000. 83.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CPNG shares. Barclays raised their price target on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. Finally, Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Two equities 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 currently has an average rating of "Moderate Buy" and an average target price of $30.08.

Coupang Stock Down 0.1%

Coupang stock opened at $29.42 on Friday. The firm has a market cap of $53.41 billion, a price-to-earnings ratio of 210.11 and a beta of 1.16. The stock has a fifty day simple moving average of $29.36 and a two-hundred day simple moving average of $25.46. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $31.65. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The business had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.02 billion. Coupang had a return on equity of 10.07% and a net margin of 0.82%. Coupang's revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts predict that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Transactions at Coupang

In related news, CFO Gaurav Anand sold 175,000 shares of Coupang stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Greenoaks Capital Partners Llc acquired 650,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $26.86 per share, with a total value of $17,459,000.00. Following the acquisition, the director directly owned 55,131,161 shares of the company's stock, valued at $1,480,822,984.46. This trade represents a 1.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 40,450,350 shares of company stock worth $1,067,557,885. 12.78% of the stock is currently owned by insiders.

About Coupang

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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