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

Allen Investment Management LLC lowered its stake in shares of Coupang, Inc. (NYSE:CPNG) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,888,149 shares of the company’s stock after selling 105,408 shares during the quarter. Allen Investment Management LLC owned approximately 0.10% of Coupang worth $44,541,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Coupang by 343.5% in the third quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after purchasing an additional 22,147,432 shares in the last quarter. Norges Bank bought a new stake in shares of Coupang during the fourth quarter worth $498,333,000. Bank of America Corp DE increased its position in shares of Coupang by 198.8% during the third quarter. Bank of America Corp DE now owns 5,510,247 shares of the company’s stock worth $177,430,000 after acquiring an additional 3,666,227 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Coupang by 249.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,685,047 shares of the company’s stock worth $150,859,000 after purchasing an additional 3,343,171 shares during the last quarter. Finally, State Street Corp boosted its holdings in Coupang by 21.2% during the third quarter. State Street Corp now owns 18,964,373 shares of the company’s stock worth $610,653,000 after purchasing an additional 3,322,598 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Coupang Stock Down 0.1%

Shares of NYSE:CPNG opened at $16.59 on Tuesday. The company has a market capitalization of $29.78 billion, a PE ratio of -184.32 and a beta of 1.13. 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 business has a fifty day moving average price of $18.47 and a two-hundred day moving average price of $20.85. Coupang, Inc. has a 1 year low of $15.03 and a 1 year high of $34.08.

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 firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the previous year, the company posted $0.06 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Analysts forecast that Coupang, Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling at Coupang

In other news, Director Neil Mehta acquired 3,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $18.68 per share, with a total value of $56,040,000.00. Following the acquisition, the director owned 52,978,114 shares in the company, valued at approximately $989,631,169.52. This represents a 6.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders bought 7,350,104 shares of company stock worth $136,566,051. Company insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CPNG. Barclays raised their target price on shares of Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Citigroup lowered shares of Coupang from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Sanford C. Bernstein restated an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Mizuho lowered their target price on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. Finally, Weiss Ratings downgraded Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Coupang currently has an average rating of “Hold” and an average price target of $26.92.

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.