Tidal Investments LLC Trims Stock Position in Coupang, Inc. (NYSE:CPNG)

Tidal Investments LLC lessened its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 217,614 shares of the company's stock after selling 12,353 shares during the period. Tidal Investments LLC's holdings in Coupang were worth $4,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wingate Wealth Advisors Inc. purchased a new position in shares of Coupang during the fourth quarter valued at approximately $26,000. Berbice Capital Management LLC purchased a new position in shares of Coupang during the fourth quarter valued at approximately $31,000. Itau Unibanco Holding S.A. lifted its stake in shares of Coupang by 520.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after buying an additional 1,640 shares during the period. Allworth Financial LP lifted its stake in shares of Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after buying an additional 1,986 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Coupang by 142.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after buying an additional 1,429 shares during the period. Hedge funds and other institutional investors own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CPNG. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective on the stock 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 company 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.64.

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 9,347 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the completion of the sale, the vice president now owns 177,106 shares of the company's stock, valued at $4,223,978.10. This represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greenoaks Capital Partners Llc acquired 650,000 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was acquired at an average cost of $26.86 per share, with a total value of $17,459,000.00. Following the transaction, the director now directly owns 55,131,161 shares of the company's stock, valued at approximately $1,480,822,984.46. This represents a 1.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 30,334,697 shares of company stock valued at $780,547,061 over the last quarter. Company insiders own 13.60% of the company's stock.

Coupang Stock Performance

NYSE:CPNG opened at $27.12 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a market cap of $49.24 billion, a P/E ratio of 47.58, a P/E/G ratio of 52.20 and a beta of 1.08. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $27.73. The firm's 50 day moving average is $23.21 and its two-hundred day moving average is $23.47.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The company had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $8.02 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. Analysts expect that Coupang, Inc. will post 0.17 EPS for the current year.

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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