NewEdge Wealth LLC Increases Stock Position in Coupang, Inc. (NYSE:CPNG)

NewEdge Wealth LLC raised its holdings in Coupang, Inc. (NYSE:CPNG) by 22.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,815 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. NewEdge Wealth LLC’s holdings in Coupang were worth $353,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CPNG. Eagle Bay Advisors LLC acquired a new position in Coupang in the second quarter valued at $26,000. Headinvest LLC acquired a new position in Coupang in the third quarter valued at $29,000. Altshuler Shaham Ltd acquired a new position in Coupang in the fourth quarter valued at $36,000. Comerica Bank acquired a new position in Coupang in the third quarter valued at $43,000. Finally, NBC Securities Inc. acquired a new position in shares of Coupang during the third quarter worth about $51,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Up 0.5 %

CPNG stock opened at $22.63 on Thursday. The company has a market cap of $40.57 billion, a P/E ratio of 30.17 and a beta of 1.32. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $22.89. The company’s 50-day moving average price is $17.92 and its 200 day moving average price is $16.73. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13.

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

Analyst Ratings Changes

CPNG has been the topic of a number of recent analyst reports. Citigroup upgraded shares of Coupang from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $19.00 to $26.00 in a research note on Monday. UBS Group lowered shares of Coupang from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $18.50 in a research note on Wednesday, December 20th. TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. Barclays boosted their price target 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.42.

Insider Buying and Selling

In other Coupang news, Director Neil Mehta sold 1,600,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 48,006,135 shares of the company’s stock, valued at $896,754,601.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Neil Mehta sold 1,600,000 shares of the stock in a transaction 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 owns 48,006,135 shares of the company’s stock, valued at $896,754,601.80. The transaction was disclosed in a 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 on Monday, March 18th. The shares were sold at an average price of $18.25, for a total value of $2,538,210.00. Following the sale, the insider now directly owns 394,192 shares in the company, valued at approximately $7,194,004. The disclosure for this sale can be found here. Insiders sold 33,355,590 shares of company stock worth $633,443,979 in the last ninety days. Insiders own 14.90% of the company’s stock.

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.