Coupang, Inc. $CPNG Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Coupang, Inc. (NYSE:CPNG) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,161,904 shares of the company’s stock after purchasing an additional 301,366 shares during the quarter. Bank of New York Mellon Corp’s holdings in Coupang were worth $74,589,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CPNG. Vanguard Group Inc. grew its position in shares of 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 during the period. Norges Bank purchased a new position in shares of Coupang in the fourth quarter worth about $498,333,000. Bank of America Corp DE lifted its stake in shares of Coupang by 198.8% in the third quarter. Bank of America Corp DE now owns 5,510,247 shares of the company’s stock worth $177,430,000 after buying an additional 3,666,227 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Coupang by 249.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,685,047 shares of the company’s stock worth $150,859,000 after buying an additional 3,343,171 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Coupang by 21.2% in the third quarter. State Street Corp now owns 18,964,373 shares of the company’s stock worth $610,653,000 after buying an additional 3,322,598 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Performance

NYSE:CPNG opened at $15.84 on Wednesday. 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 firm has a market capitalization of $28.44 billion, a price-to-earnings ratio of -175.99 and a beta of 1.12. The company’s 50-day moving average is $18.15 and its two-hundred day moving average is $20.34. Coupang, Inc. has a 1-year low of $14.92 and a 1-year high of $34.08.

Coupang (NYSE:CPNG) last posted its 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). The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Analysts forecast that Coupang, Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CPNG. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Weiss Ratings downgraded shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Nomura decreased their price target on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. UBS Group set a $25.00 price target on shares of Coupang in a research note on Thursday, February 19th. Finally, Mizuho decreased their price target on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.92.

Insiders Place Their Bets

In other news, Director Neil Mehta bought 3,000,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $18.68 per share, for a total transaction of $56,040,000.00. Following the acquisition, the director directly owned 52,978,114 shares of the company’s stock, valued at $989,631,169.52. This trade represents a 6.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 12.83% of the stock is owned by insiders.

Coupang Company Profile

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.