Comerica Bank Increases Stake in Coupang, Inc. (NYSE:CPNG)

Comerica Bank boosted its stake in Coupang, Inc. (NYSE:CPNG) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,546 shares of the company’s stock after purchasing an additional 652 shares during the period. Comerica Bank’s holdings in Coupang were worth $364,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CPNG. Wingate Wealth Advisors Inc. bought a new stake in shares of Coupang in the 4th quarter worth approximately $26,000. Berbice Capital Management LLC bought a new stake in shares of Coupang in the 4th quarter worth approximately $31,000. Allworth Financial LP grew its position in shares of Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after buying an additional 1,986 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Coupang by 142.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company’s stock worth $53,000 after buying an additional 1,429 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Coupang by 34.7% in the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock worth $70,000 after buying an additional 822 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coupang

In related news, VP Pranam Kolari sold 9,347 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.85, for a total transaction of $222,925.95. Following the sale, the vice president now directly owns 177,106 shares of the company’s stock, valued at approximately $4,223,978.10. This represents a 5.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the sale, the insider now directly owns 319,542,259 shares in the company, valued at $8,228,213,169.25. This trade represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,334,697 shares of company stock worth $780,547,061 over the last ninety days. 13.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CPNG. Barclays lifted their price objective on Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research report on Wednesday, February 26th. Finally, Mizuho upgraded Coupang to a “hold” rating in a research report on Friday, April 18th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Coupang currently has an average rating of “Moderate Buy” and a consensus price target of $29.64.

Coupang Trading Up 1.4%

NYSE CPNG opened at $27.22 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a twelve month low of $18.16 and a twelve month high of $27.73. The firm has a market capitalization of $49.15 billion, a PE ratio of 47.76, a P/E/G ratio of 52.20 and a beta of 1.08. The stock’s 50 day moving average is $23.01 and its 200 day moving average is $23.47.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.02 billion. The business’s revenue was up 11.2% compared to the same quarter last year. Research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal 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.