US Bancorp DE Sells 50,841 Shares of Coupang, Inc. $CPNG

US Bancorp DE cut its stake in shares of Coupang, Inc. (NYSE:CPNG) by 20.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 194,955 shares of the company’s stock after selling 50,841 shares during the quarter. US Bancorp DE’s holdings in Coupang were worth $5,841,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CPNG. SVB Wealth LLC bought a new position in shares of Coupang during the 1st quarter valued at approximately $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Coupang during the 1st quarter valued at approximately $30,000. Albion Financial Group UT bought a new position in shares of Coupang during the 2nd quarter valued at approximately $30,000. Grove Bank & Trust bought a new position in shares of Coupang during the 1st quarter valued at approximately $33,000. Finally, Brooklyn Investment Group grew its stake in shares of Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock valued at $37,000 after acquiring an additional 506 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CPNG shares. Wall Street Zen downgraded Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Nomura Securities raised Coupang to a “strong-buy” rating in a report on Wednesday, August 6th. Morgan Stanley boosted their price target on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a report on Wednesday, August 6th. Finally, Nomura raised Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Coupang currently has an average rating of “Moderate Buy” and an average price target of $33.50.

Insider Buying and Selling at Coupang

In other news, CFO Gaurav Anand sold 75,350 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the sale, the chief financial officer directly owned 2,016,940 shares of the company’s stock, valued at $56,050,762.60. This represents a 3.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Pranam Kolari sold 11,653 shares of the company’s 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 in the company, valued at $4,623,818.64. This trade represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 988,983 shares of company stock worth $31,203,966. Company insiders own 12.78% of the company’s stock.

Coupang Stock Down 3.7%

Shares of CPNG opened at $31.26 on Monday. The stock has a market capitalization of $56.98 billion, a price-to-earnings ratio of 156.28 and a beta of 1.18. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08. The business’s 50 day simple moving average is $30.49 and its 200-day simple moving average is $28.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $8.52 billion for the quarter, compared to analysts’ expectations of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The firm’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. As a group, equities analysts expect 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.