Coupang, Inc. (NYSE:CPNG) Position Increased by M&T Bank Corp

M&T Bank Corp grew its position in Coupang, Inc. (NYSE:CPNG) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,550 shares of the company’s stock after purchasing an additional 1,461 shares during the period. M&T Bank Corp’s holdings in Coupang were worth $2,324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Headinvest LLC bought a new stake in shares of Coupang in the 3rd quarter valued at approximately $29,000. NBC Securities Inc. bought a new stake in shares of Coupang in the 3rd quarter valued at approximately $51,000. Deuterium Capital Management LLC bought a new stake in shares of Coupang in the 3rd quarter valued at approximately $170,000. Orion Portfolio Solutions LLC bought a new stake in shares of Coupang in the 3rd quarter valued at approximately $172,000. Finally, Resonant Capital Advisors LLC bought a new stake in shares of Coupang in the 3rd quarter valued at approximately $173,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Down 9.2 %

Shares of CPNG stock opened at $21.47 on Thursday. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $23.77. The firm has a market cap of $38.50 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 19.21 and a beta of 1.13. The stock has a 50 day moving average of $19.91 and a 200-day moving average of $17.24. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.13.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coupang had a return on equity of 15.04% and a net margin of 5.57%. The business had revenue of $7.11 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, equities analysts predict that Coupang, Inc. will post 0.35 EPS for the current year.

Insider Activity at Coupang

In related news, insider Harold Rogers sold 139,080 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $18.25, for a total value of $2,538,210.00. Following the completion of the transaction, the insider now directly owns 394,192 shares in the company, valued at $7,194,004. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Harold Rogers sold 139,080 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $18.25, for a total value of $2,538,210.00. Following the completion of the transaction, the insider now directly owns 394,192 shares in the company, valued at $7,194,004. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the transaction, the insider now owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,355,282 shares of company stock worth $633,457,030. 14.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and boosted their price target for the company from $18.50 to $21.00 in a research note on Thursday, February 29th. Mizuho boosted their target price on Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday. Bank of America started coverage on Coupang in a report on Friday, May 3rd. They issued a “buy” rating and a $30.00 target price for the company. Barclays boosted their target price on Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Citigroup boosted their target price on Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.25.

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.