Fiduciary Trust Co Has $323.44 Million Stake in Coupang, Inc. (NYSE:CPNG)

Fiduciary Trust Co reduced its position in shares of Coupang, Inc. (NYSE:CPNG) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,174,840 shares of the company’s stock after selling 60,000 shares during the period. Coupang makes up about 4.5% of Fiduciary Trust Co’s investment portfolio, making the stock its 4th largest position. Fiduciary Trust Co owned approximately 0.73% of Coupang worth $323,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPNG. Van ECK Associates Corp boosted its stake in Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares during the period. Baader Bank Aktiengesellschaft increased its position in Coupang by 5.7% during the second quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock worth $219,000 after buying an additional 567 shares during the last quarter. Covestor Ltd increased its holdings in shares of Coupang by 10.4% during the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock valued at $159,000 after acquiring an additional 612 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in Coupang by 6.0% during the second quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock valued at $235,000 after purchasing an additional 635 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in Coupang by 15.4% in the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock worth $141,000 after acquiring an additional 890 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Coupang Trading Up 1.1 %

CPNG stock opened at $25.49 on Thursday. The business has a fifty day moving average of $25.06 and a 200-day moving average of $23.01. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a market cap of $45.84 billion, a P/E ratio of 44.71, a PEG ratio of 225.02 and a beta of 1.10. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $26.91.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The firm had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 EPS. As a group, equities research analysts expect that Coupang, Inc. will post 0.11 EPS for the current year.

Insider Activity at Coupang

In other news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $24.01 per share, for a total transaction of $18,007,500.00. Following the completion of the acquisition, the director now directly owns 52,038,723 shares in the company, valued at approximately $1,249,449,739.23. This trade represents a 1.46 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $22.97, for a total value of $344,550,000.00. Following the completion of the sale, the chief executive officer now owns 2,000,000 shares in the company, valued at $45,940,000. The trade was a 88.24 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on CPNG. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and upped their target price for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have assigned 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 $27.56.

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.