Ledyard National Bank Cuts Stock Holdings in Coupang, Inc. $CPNG

Ledyard National Bank decreased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 10.1% in the 2nd quarter, Holdings Channel reports. The firm owned 18,105 shares of the company’s stock after selling 2,024 shares during the period. Ledyard National Bank’s holdings in Coupang were worth $542,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC grew its position in Coupang by 0.5% during the second quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock valued at $2,051,000 after acquiring an additional 363 shares during the last quarter. Inspirion Wealth Advisors LLC grew its position in Coupang by 0.3% during the second quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock valued at $4,024,000 after acquiring an additional 400 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in Coupang by 1.4% during the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock valued at $646,000 after acquiring an additional 408 shares during the last quarter. Baader Bank Aktiengesellschaft grew its position in Coupang by 4.3% during the second quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock valued at $323,000 after acquiring an additional 461 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its position in Coupang by 4.2% during the first quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company’s stock valued at $258,000 after acquiring an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

NYSE:CPNG opened at $31.92 on Friday. The stock has a market cap of $58.18 billion, a P/E ratio of 159.58 and a beta of 1.18. The firm’s fifty day simple moving average is $31.35 and its 200 day simple moving average is $28.96. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $34.08. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on CPNG. Arete Research started coverage on shares of Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Morgan Stanley boosted their price objective on Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Nomura Securities upgraded Coupang to a “strong-buy” rating 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 objective for the company. in a research report on Wednesday, August 6th. Finally, Zacks Research downgraded Coupang from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. One equities research 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 given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.50.

Insiders Place Their Bets

In related news, insider Harold Rogers sold 64,755 shares of Coupang stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total value of $2,076,045.30. Following the sale, the insider owned 449,569 shares in the company, valued at $14,413,182.14. The trade was a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Benjamin Sun sold 815,797 shares of Coupang stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director owned 503,624 shares in the company, valued at approximately $16,055,533.12. This trade represents a 61.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 988,983 shares of company stock valued at $31,203,966 over the last quarter. 12.78% of the stock is owned by company insiders.

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.