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

Ledyard National Bank lowered its stake in Coupang, Inc. (NYSE:CPNG) by 23.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,108 shares of the company’s stock after selling 7,001 shares during the quarter. Ledyard National Bank’s holdings in Coupang were worth $508,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Coupang in the third quarter worth about $28,000. Asset Dedication LLC lifted its holdings in shares of Coupang by 438.1% in the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after buying an additional 990 shares in the last quarter. Van ECK Associates Corp lifted 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 in the last quarter. Berbice Capital Management LLC bought a new position in Coupang during the fourth quarter valued at approximately $31,000. Finally, Wolff Wiese Magana LLC boosted its position in shares of Coupang by 330.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after acquiring an additional 1,295 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Activity at Coupang

In related news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the purchase, the director now owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. This represents a 1.32 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the sale, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,009,234 shares of company stock valued at $344,761,515 over the last quarter. 13.60% of the stock is owned by corporate insiders.

Coupang Stock Down 0.9 %

Shares of NYSE:CPNG opened at $23.65 on Friday. Coupang, Inc. has a 52-week low of $14.10 and a 52-week high of $26.91. 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 business’s 50 day moving average is $22.94 and its 200 day moving average is $23.48. The stock has a market cap of $42.54 billion, a P/E ratio of 41.49, a price-to-earnings-growth ratio of 42.58 and a beta of 1.11.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The company had revenue of $7.87 billion for 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%. Coupang’s revenue was up 27.2% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. Sell-side analysts predict that Coupang, Inc. will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from 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.