Citigroup Inc. lowered its position in shares of Coupang, Inc. (NYSE:CPNG – Free Report) by 74.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 256,168 shares of the company’s stock after selling 742,152 shares during the period. Citigroup Inc.’s holdings in Coupang were worth $4,457,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in CPNG. Raymond James & Associates increased its position in shares of Coupang by 64.0% during the first quarter. Raymond James & Associates now owns 188,859 shares of the company’s stock valued at $3,339,000 after acquiring an additional 73,703 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Coupang by 140.7% in the first quarter. Bank of New York Mellon Corp now owns 1,035,866 shares of the company’s stock worth $18,315,000 after purchasing an additional 605,499 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Coupang by 111.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,878 shares of the company’s stock worth $422,000 after purchasing an additional 12,562 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Coupang by 27.0% in the first quarter. HighTower Advisors LLC now owns 81,147 shares of the company’s stock worth $1,435,000 after purchasing an additional 17,248 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Coupang by 11.4% in the first quarter. Vontobel Holding Ltd. now owns 67,674 shares of the company’s stock worth $1,267,000 after purchasing an additional 6,941 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Mizuho raised their target price on shares of Coupang from $20.00 to $22.00 in a report on Wednesday, August 9th. Bank of America raised their target price on shares of Coupang from $19.00 to $22.00 in a report on Thursday, August 10th. TheStreet cut shares of Coupang from a “c-” rating to a “d+” rating in a report on Wednesday, November 8th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research note on Wednesday, August 9th. Finally, Barclays lifted their price target on shares of Coupang from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.
Read Our Latest Report on CPNG
Insider Activity
In other news, insider Tae Jung Kim sold 4,673 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $16.95, for a total transaction of $79,207.35. Following the sale, the insider now directly owns 254,530 shares in the company, valued at approximately $4,314,283.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.90% of the company’s stock.
Coupang Stock Up 0.1 %
Shares of CPNG stock opened at $16.26 on Friday. The company has a market capitalization of $29.07 billion, a price-to-earnings ratio of 67.75 and a beta of 1.38. Coupang, Inc. has a one year low of $12.66 and a one year high of $20.15. The company’s fifty day moving average price is $16.90 and its 200-day moving average price is $17.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.14 and a quick ratio of 0.89.
Coupang (NYSE:CPNG – Get Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $5.91 billion. Coupang had a net margin of 1.86% and a return on equity of 16.09%. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 earnings per share. Sell-side analysts expect that Coupang, Inc. will post 0.28 EPS for the current fiscal year.
Coupang Profile
Coupang, Inc, together with its subsidiaries owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. The company operates through two segments, Product Commerce and Developing Offerings. 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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