Bank of America Corp DE Reduces Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Bank of America Corp DE decreased its holdings in Coupang, Inc. (NYSE:CPNG) by 79.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 883,017 shares of the company’s stock after selling 3,456,658 shares during the quarter. Bank of America Corp DE’s holdings in Coupang were worth $19,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new stake in Coupang in the fourth quarter worth $26,000. Berbice Capital Management LLC purchased a new stake in Coupang in the fourth quarter worth $31,000. Itau Unibanco Holding S.A. lifted its stake in Coupang by 520.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock worth $43,000 after acquiring an additional 1,640 shares during the period. Allworth Financial LP lifted its stake in Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after acquiring an additional 1,986 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its stake in Coupang by 142.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company’s stock worth $53,000 after acquiring an additional 1,429 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Transactions at Coupang

In related news, Director Greenoaks Capital Partners Llc purchased 650,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was purchased at an average price of $26.86 per share, with a total value of $17,459,000.00. Following the transaction, the director now directly owns 55,131,161 shares in the company, valued at $1,480,822,984.46. This trade represents a 1.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the sale, the director now owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. The trade was a 12.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,334,697 shares of company stock valued at $780,547,061 in the last quarter. 13.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Coupang Stock Performance

Shares of Coupang stock opened at $27.14 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $49.28 billion, a P/E ratio of 47.61, a P/E/G ratio of 52.20 and a beta of 1.08. The business has a fifty day simple moving average of $23.11 and a two-hundred day simple moving average of $23.44. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $27.73.

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

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.