Ledyard National Bank Sells 3,500 Shares of Coupang, Inc. (NYSE:CPNG)

Ledyard National Bank lessened its holdings in Coupang, Inc. (NYSE:CPNG) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,000 shares of the company’s stock after selling 3,500 shares during the quarter. Ledyard National Bank’s holdings in Coupang were worth $978,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Summit Trail Advisors LLC raised its holdings in Coupang by 0.6% in the 1st quarter. Summit Trail Advisors LLC now owns 71,576 shares of the company’s stock valued at $1,273,000 after buying an additional 462 shares during the last quarter. Private Advisor Group LLC raised its holdings in Coupang by 1.6% in the 4th quarter. Private Advisor Group LLC now owns 47,052 shares of the company’s stock valued at $762,000 after buying an additional 760 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Coupang by 135.8% in the 1st quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock valued at $26,000 after buying an additional 827 shares during the last quarter. Raymond James & Associates raised its holdings in Coupang by 1.2% during the 4th quarter. Raymond James & Associates now owns 87,812 shares of the company’s stock worth $1,422,000 after purchasing an additional 1,031 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its holdings in Coupang by 1.5% during the 4th quarter. Johnson Investment Counsel Inc. now owns 73,612 shares of the company’s stock worth $1,192,000 after purchasing an additional 1,080 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CPNG. Mizuho raised their price target on shares of Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. UBS Group upgraded shares of Coupang from a “neutral” rating to a “buy” rating and raised their price target for the stock from $18.50 to $26.00 in a report on Thursday, May 16th. Bank of America began coverage on shares of Coupang in a report on Friday, May 3rd. They set a “buy” rating and a $30.00 price target for the company. Citigroup raised their price target on shares of Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Barclays raised their price target on shares of Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Coupang currently has an average rating of “Moderate Buy” and a consensus price target of $26.71.

Insider Activity at Coupang

In related news, insider Pranam Kolari sold 2,048 shares of Coupang stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the sale, the insider now owns 187,951 shares of the company’s stock, valued at approximately $4,198,825.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Coupang news, insider Pranam Kolari sold 2,048 shares of Coupang stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total transaction of $45,752.32. Following the transaction, the insider now directly owns 187,951 shares of the company’s stock, valued at approximately $4,198,825.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jonathan D. Lee sold 5,000 shares of Coupang stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $21.45, for a total transaction of $107,250.00. Following the transaction, the chief accounting officer now directly owns 120,835 shares in the company, valued at $2,591,910.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 753,538 shares of company stock valued at $15,662,818. 13.60% of the stock is owned by company insiders.

Coupang Trading Down 2.9 %

Shares of CPNG stock traded down $0.61 during trading hours on Thursday, hitting $20.21. 7,689,995 shares of the company were exchanged, compared to its average volume of 11,247,522. The firm has a market cap of $36.14 billion, a P/E ratio of 28.87, a P/E/G ratio of 75.89 and a beta of 1.09. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $23.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 1.15. The company has a 50 day simple moving average of $21.77 and a two-hundred day simple moving average of $19.24.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coupang had a return on equity of 13.59% and a net margin of 4.96%. The company had revenue of $7.11 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same period last year, the business earned $0.05 EPS. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. Equities analysts anticipate that Coupang, Inc. will post 0.01 EPS for the current year.

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.