Coupang, Inc. $CPNG Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its stake in shares of Coupang, Inc. (NYSE:CPNG) by 82.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,730 shares of the company’s stock after selling 379,502 shares during the period. TD Asset Management Inc’s holdings in Coupang were worth $2,449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. RFG Advisory LLC grew its holdings in Coupang by 16.7% during the second quarter. RFG Advisory LLC now owns 34,465 shares of the company’s stock worth $1,033,000 after acquiring an additional 4,939 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Coupang by 0.5% during the second quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock worth $2,051,000 after acquiring an additional 363 shares during the period. CWM LLC grew its holdings in Coupang by 17.0% during the second quarter. CWM LLC now owns 169,346 shares of the company’s stock worth $5,074,000 after acquiring an additional 24,638 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Coupang by 34.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 82,154 shares of the company’s stock worth $2,461,000 after acquiring an additional 21,227 shares during the period. Finally, Apollon Wealth Management LLC acquired a new stake in Coupang during the second quarter worth about $272,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Performance

Shares of NYSE:CPNG opened at $31.40 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The business’s 50 day moving average price is $30.93 and its 200-day moving average price is $28.43. The firm has a market capitalization of $57.24 billion, a PE ratio of 157.01 and a beta of 1.18. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The firm had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. As a group, equities research analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPNG has been the topic of several analyst reports. Wall Street Zen lowered Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Arete Research began coverage on Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research report on Wednesday, August 6th. Finally, Arete began coverage on Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.50.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the sale, the vice president directly owned 158,676 shares of the company’s stock, valued at $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 988,983 shares of company stock valued at $31,203,966. Insiders own 12.78% of the company’s stock.

Coupang 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.