NewEdge Advisors LLC Sells 43,223 Shares of Coupang, Inc. $CPNG

NewEdge Advisors LLC decreased its holdings in Coupang, Inc. (NYSE:CPNG) by 66.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,888 shares of the company’s stock after selling 43,223 shares during the period. NewEdge Advisors LLC’s holdings in Coupang were worth $413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPNG. Vanguard Group Inc. increased its position in shares of Coupang by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after purchasing an additional 951,812 shares during the last quarter. Ethic Inc. lifted its position in Coupang by 383.2% in the fourth quarter. Ethic Inc. now owns 126,154 shares of the company’s stock worth $2,976,000 after buying an additional 100,047 shares during the last quarter. Geode Capital Management LLC lifted its position in Coupang by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock worth $574,068,000 after buying an additional 1,689,293 shares during the last quarter. M&T Bank Corp lifted its position in Coupang by 22.7% in the fourth quarter. M&T Bank Corp now owns 318,971 shares of the company’s stock worth $7,525,000 after buying an additional 59,013 shares during the last quarter. Finally, Ashoka WhiteOak Capital Pte Ltd boosted its stake in Coupang by 404.1% during the fourth quarter. Ashoka WhiteOak Capital Pte Ltd now owns 314,383 shares of the company’s stock worth $7,586,000 after buying an additional 252,020 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of Coupang stock opened at $16.44 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average is $17.02 and its two-hundred day moving average is $17.87. Coupang, Inc. has a 52 week low of $14.92 and a 52 week high of $34.08. The company has a market capitalization of $29.55 billion, a PE ratio of -38.23 and a beta of 1.13.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.18. The business had revenue of $8.86 billion during the quarter, compared to the consensus estimate of $8.92 billion. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.02 earnings per share. As a group, analysts expect that Coupang, Inc. will post -0.38 earnings per share for the current year.

Insider Activity

In other Coupang news, CAO Jonathan D. Lee sold 5,519 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.10, for a total value of $88,855.90. Following the completion of the sale, the chief accounting officer directly owned 181,915 shares of the company’s stock, valued at $2,928,831.50. The trade was a 2.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the sale, the insider directly owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CPNG shares. CLSA assumed coverage on shares of Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and lowered their target price for the stock from $23.00 to $21.50 in a report on Wednesday, August 5th. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a research report on Thursday, July 9th. Finally, Barclays reissued an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a research note on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.39.

About Coupang

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.