Ledyard National Bank lowered its stake in Coupang, Inc. (NYSE:CPNG – Free Report) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,775 shares of the company’s stock after selling 776 shares during the period. Ledyard National Bank’s holdings in Coupang were worth $1,127,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in CPNG. Eagle Bay Advisors LLC acquired a new position in shares of Coupang during the second quarter worth approximately $26,000. Altshuler Shaham Ltd bought a new stake in Coupang in the 4th quarter valued at $36,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Coupang in the 2nd quarter worth $54,000. AlphaCentric Advisors LLC bought a new position in shares of Coupang during the 2nd quarter worth about $110,000. Finally, Headlands Technologies LLC acquired a new position in shares of Coupang during the first quarter valued at about $112,000. Institutional investors own 72.02% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. TheStreet lowered Coupang from a “c-” rating to a “d+” rating in a research note on Wednesday, November 8th. Bank of America raised their price objective on shares of Coupang from $19.00 to $22.00 in a report on Thursday, August 10th. Barclays upped their target price on shares of Coupang from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a report on Wednesday, August 9th. Finally, Mizuho increased their target price on Coupang from $20.00 to $22.00 in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.
Coupang Stock Performance
Shares of CPNG traded up $0.02 during trading hours on Thursday, hitting $15.79. The company had a trading volume of 1,212,111 shares, compared to its average volume of 7,537,709. The firm has a market cap of $28.17 billion, a price-to-earnings ratio of 65.73 and a beta of 1.38. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $17.24 and a 200-day moving average of $17.27. Coupang, Inc. has a 12 month low of $12.66 and a 12 month high of $20.25.
Coupang (NYSE:CPNG – Get Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 16.09% and a net margin of 1.86%. The company’s revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. Equities analysts anticipate that Coupang, Inc. will post 0.28 EPS for the current fiscal year.
Insider Buying and Selling at Coupang
In related news, insider Tae Jung Kim sold 4,673 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $16.95, for a total transaction of $79,207.35. Following the sale, the insider now owns 254,530 shares of the company’s stock, valued at $4,314,283.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 14.90% of the company’s stock.
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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