Ledyard National Bank Reduces Stake in Coupang, Inc. (NYSE:CPNG)

Ledyard National Bank lowered its stake in Coupang, Inc. (NYSE:CPNG) by 24.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,500 shares of the company’s stock after selling 18,500 shares during the period. Ledyard National Bank’s holdings in Coupang were worth $947,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headinvest LLC purchased a new position in shares of Coupang during the third quarter valued at approximately $29,000. NBC Securities Inc. bought a new stake in shares of Coupang during the third quarter valued at approximately $51,000. Deuterium Capital Management LLC bought a new position in Coupang in the third quarter worth approximately $170,000. Orion Portfolio Solutions LLC bought a new position in Coupang in the third quarter worth approximately $172,000. Finally, Resonant Capital Advisors LLC bought a new position in Coupang in the third quarter worth approximately $173,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, insider Harold Rogers sold 139,080 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $18.25, for a total transaction of $2,538,210.00. Following the completion of the transaction, the insider now owns 394,192 shares in the company, valued at approximately $7,194,004. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Coupang news, insider Pranam Kolari sold 2,356 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $13.88, for a total value of $32,701.28. Following the completion of the sale, the insider now owns 182,844 shares in the company, valued at approximately $2,537,874.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Harold Rogers sold 139,080 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $18.25, for a total transaction of $2,538,210.00. Following the completion of the sale, the insider now owns 394,192 shares of the company’s stock, valued at approximately $7,194,004. The disclosure for this sale can be found here. Insiders sold a total of 33,355,590 shares of company stock worth $633,443,979 in the last 90 days. Insiders own 14.90% of the company’s stock.

Coupang Stock Performance

NYSE:CPNG traded down $0.54 during mid-day trading on Tuesday, hitting $22.56. The company’s stock had a trading volume of 4,716,769 shares, compared to its average volume of 13,132,026. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $23.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of 30.19 and a beta of 1.32. The business’s fifty day moving average is $19.13 and its two-hundred day moving average is $17.03.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.40 billion. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Analysts anticipate that Coupang, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. TheStreet raised shares of Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. Citigroup raised Coupang from a “neutral” rating to a “buy” rating and upped their price target for the stock from $19.00 to $26.00 in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and upped their price target for the stock from $18.50 to $21.00 in a research report on Thursday, February 29th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.42.

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.