Parkwood LLC Sells 51,801 Shares of Coupang, Inc. (NYSE:CPNG)

Parkwood LLC cut its position in shares of Coupang, Inc. (NYSE:CPNG) by 15.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 283,222 shares of the company’s stock after selling 51,801 shares during the period. Parkwood LLC’s holdings in Coupang were worth $6,225,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new position in Coupang in the fourth quarter worth about $26,000. Berbice Capital Management LLC purchased a new stake in Coupang in the 4th quarter valued at about $31,000. Itau Unibanco Holding S.A. increased its position 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 worth $43,000 after acquiring an additional 1,640 shares during the period. Allworth Financial LP grew its stake in Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after purchasing an additional 1,986 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CPNG shares. Barclays boosted their price target on shares of Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Mizuho upgraded shares of Coupang to a “hold” rating in a report on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.19.

Coupang Price Performance

CPNG stock opened at $26.58 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a one year low of $18.16 and a one year high of $27.03. The firm has a 50-day moving average of $22.73 and a two-hundred day moving average of $23.43. The firm has a market capitalization of $47.99 billion, a PE ratio of 46.63, a P/E/G ratio of 52.20 and a beta of 1.08.

Coupang (NYSE:CPNG) last issued 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). Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. Coupang’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. The trade was a 12.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Pranam Kolari sold 9,347 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.85, for a total transaction of $222,925.95. Following the transaction, the vice president now owns 177,106 shares in the company, valued at $4,223,978.10. The trade was a 5.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,259,347 shares of company stock valued at $778,580,426 over the last 90 days. 13.60% of the stock is currently 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.