Raymond James Financial Services Advisors Inc. Lowers Position in Coupang, Inc. (NYSE:CPNG)

Raymond James Financial Services Advisors Inc. cut its holdings in Coupang, Inc. (NYSE:CPNG) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,275 shares of the company’s stock after selling 2,603 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Coupang were worth $717,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Raymond James & Associates lifted its stake in Coupang by 1.2% in the fourth quarter. Raymond James & Associates now owns 87,812 shares of the company’s stock worth $1,422,000 after acquiring an additional 1,031 shares during the period. SG Americas Securities LLC lifted its position in shares of Coupang by 1,509.1% during the fourth quarter. SG Americas Securities LLC now owns 163,159 shares of the company’s stock valued at $2,642,000 after buying an additional 153,019 shares during the last quarter. Advisory Resource Group lifted its position in shares of Coupang by 16.0% during the fourth quarter. Advisory Resource Group now owns 49,142 shares of the company’s stock valued at $796,000 after buying an additional 6,770 shares during the last quarter. Polianta Ltd purchased a new stake in shares of Coupang during the fourth quarter valued at about $882,000. Finally, Ignite Planners LLC lifted its position in shares of Coupang by 9.6% during the fourth quarter. Ignite Planners LLC now owns 18,643 shares of the company’s stock valued at $293,000 after buying an additional 1,638 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Pranam Kolari sold 2,356 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $13.88, for a total transaction of $32,701.28. Following the sale, the insider now owns 182,844 shares of the company’s stock, valued at approximately $2,537,874.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Pranam Kolari sold 2,356 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $13.88, for a total transaction of $32,701.28. Following the sale, the insider now owns 182,844 shares of the company’s stock, valued at approximately $2,537,874.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neil Mehta sold 1,600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the sale, the director now directly owns 48,006,135 shares in the company, valued at approximately $896,754,601.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,355,590 shares of company stock worth $633,443,979. 14.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on CPNG shares. Barclays increased their price target on shares of Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Citigroup raised shares of Coupang from a “neutral” rating to a “buy” rating and increased their price target for the company from $19.00 to $26.00 in a research report on Monday. UBS Group downgraded shares of Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $18.50 in a report on Wednesday, December 20th. TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and upped their price objective for the company from $18.50 to $21.00 in a report on Thursday, February 29th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.42.

Coupang Price Performance

Shares of NYSE:CPNG opened at $22.51 on Wednesday. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $22.83. The company’s 50 day moving average is $17.76 and its 200 day moving average is $16.69. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The company has a market cap of $40.37 billion, a PE ratio of 30.01 and a beta of 1.32.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The company had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the company earned $0.06 EPS. Coupang’s quarterly revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts forecast that Coupang, Inc. will post 0.29 EPS for the current year.

About Coupang

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.