Daiwa Securities Group Inc. Sells 9,230 Shares of Coupang, Inc. (NYSE:CPNG)

Daiwa Securities Group Inc. lessened its holdings in Coupang, Inc. (NYSE:CPNG) by 23.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 29,650 shares of the company’s stock after selling 9,230 shares during the period. Daiwa Securities Group Inc.’s holdings in Coupang were worth $480,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Headinvest LLC bought a new stake in Coupang during the 3rd quarter worth about $29,000. NBC Securities Inc. bought a new stake in Coupang during the third quarter worth about $51,000. Deuterium Capital Management LLC acquired a new position in Coupang during the third quarter valued at approximately $170,000. Orion Portfolio Solutions LLC bought a new position in Coupang in the third quarter valued at approximately $172,000. Finally, Resonant Capital Advisors LLC acquired a new position in shares of Coupang during the 3rd quarter worth approximately $173,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the transaction, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coupang news, Director Neil Mehta sold 1,600,000 shares of Coupang stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $18.68, for a total value of $29,888,000.00. Following the completion of the transaction, the director now directly owns 48,006,135 shares of the company’s stock, valued at approximately $896,754,601.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total value of $600,985,067.54. Following the sale, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The disclosure for this sale can be found here. Insiders have sold 33,355,590 shares of company stock worth $633,443,979 in the last 90 days. Company insiders own 14.90% of the company’s stock.

Coupang Stock Up 1.0 %

Shares of CPNG opened at $23.03 on Friday. The firm’s 50-day simple moving average is $18.84 and its 200 day simple moving average is $16.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. The firm has a market cap of $41.30 billion, a P/E ratio of 30.71 and a beta of 1.32. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $23.07.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.40 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. On average, analysts forecast that Coupang, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

CPNG has been the subject of several recent analyst reports. Citigroup raised Coupang from a “neutral” rating to a “buy” rating and increased their price objective for the company from $19.00 to $26.00 in a report on Monday, April 15th. Barclays lifted their price objective 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. TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and boosted their price target for the stock from $18.50 to $21.00 in a research 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.42.

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.