Allen Investment Management LLC Sells 105,408 Shares of Coupang, Inc. $CPNG

Allen Investment Management LLC reduced its holdings in Coupang, Inc. (NYSE:CPNG) by 5.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,888,149 shares of the company’s stock after selling 105,408 shares during the quarter. Allen Investment Management LLC’s holdings in Coupang were worth $44,541,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. AXQ Capital LP boosted its position in shares of Coupang by 55.9% during the fourth quarter. AXQ Capital LP now owns 69,892 shares of the company’s stock valued at $1,649,000 after purchasing an additional 25,068 shares in the last quarter. TenCore Partners LP bought a new stake in shares of Coupang during the fourth quarter valued at approximately $243,000. Ellevest Inc. boosted its position in shares of Coupang by 52.2% during the fourth quarter. Ellevest Inc. now owns 20,386 shares of the company’s stock valued at $481,000 after purchasing an additional 6,989 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of Coupang during the fourth quarter valued at approximately $826,000. Finally, Norges Bank bought a new stake in shares of Coupang during the fourth quarter valued at approximately $498,333,000. 83.72% of the stock is currently owned by institutional investors.

Coupang Stock Down 0.1%

CPNG stock opened at $16.59 on Tuesday. Coupang, Inc. has a 1-year low of $15.03 and a 1-year high of $34.08. The business has a fifty day moving average price of $18.47 and a 200-day moving average price of $20.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. The stock has a market capitalization of $29.78 billion, a P/E ratio of -184.32 and a beta of 1.13.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts forecast that Coupang, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Coupang

In other news, Director Neil Mehta acquired 3,000,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average price of $18.68 per share, with a total value of $56,040,000.00. Following the completion of the acquisition, the director directly owned 52,978,114 shares of the company’s stock, valued at approximately $989,631,169.52. The trade was a 6.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 7,350,104 shares of company stock valued at $136,566,051 in the last three months. 12.83% of the stock is owned by insiders.

Analysts Set New Price Targets

CPNG has been the topic of several research reports. Sanford C. Bernstein restated an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Nomura lowered their price objective on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. Wall Street Zen cut Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Finally, Weiss Ratings cut Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.92.

Coupang Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.