Truist Financial Corp Sells 9,140 Shares of Coupang, Inc. $CPNG

Truist Financial Corp trimmed its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 10.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 82,339 shares of the company's stock after selling 9,140 shares during the period. Truist Financial Corp's holdings in Coupang were worth $2,467,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Davidson Kahn Capital Management LLC boosted its position in Coupang by 31.6% in the 1st quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock valued at $2,271,000 after buying an additional 24,877 shares during the last quarter. Altimeter Capital Management LP boosted its position in Coupang by 24.3% in the 1st quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company's stock valued at $163,191,000 after buying an additional 1,455,555 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Coupang by 40.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock valued at $6,776,000 after buying an additional 87,412 shares during the last quarter. Vontobel Holding Ltd. bought a new position in Coupang in the 1st quarter valued at $241,000. Finally, Bain Capital Public Equity Management II LLC boosted its position in Coupang by 39.4% in the 1st quarter. Bain Capital Public Equity Management II LLC now owns 1,467,232 shares of the company's stock valued at $32,176,000 after buying an additional 414,901 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insider Transactions at Coupang

In other Coupang news, Director Benjamin Sun sold 815,797 shares of Coupang stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total value of $26,007,608.36. Following the sale, the director owned 503,624 shares of the company's stock, valued at $16,055,533.12. This trade represents a 61.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Harold Rogers sold 64,755 shares of Coupang stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.06, for a total value of $2,076,045.30. Following the completion of the sale, the insider directly owned 449,569 shares in the company, valued at $14,413,182.14. This represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Arete Research assumed coverage on Coupang in a research note on Thursday, September 18th. They issued a "buy" rating and a $40.00 price target on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Coupang in a research note on Wednesday. Arete assumed coverage on Coupang in a research note on Thursday, September 18th. They issued a "buy" rating and a $40.00 price target on the stock. Morgan Stanley increased their price target on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Finally, Zacks Research downgraded Coupang from a "hold" rating to a "strong sell" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Coupang has a consensus rating of "Moderate Buy" and an average price target of $33.50.

Coupang Stock Performance

Shares of Coupang stock opened at $32.48 on Friday. The company has a market capitalization of $59.22 billion, a PE ratio of 162.42 and a beta of 1.18. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $34.08. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock's fifty day simple moving average is $30.44 and its 200 day simple moving average is $27.88.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. During the same period in the previous year, the business posted $0.07 EPS. The business's quarterly revenue was up 16.4% compared to the same quarter last year. On average, research analysts predict 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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