Ledyard National Bank Sells 7,001 Shares of Coupang, Inc. (NYSE:CPNG)

Ledyard National Bank cut its stake in Coupang, Inc. (NYSE:CPNG) by 23.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,108 shares of the company’s stock after selling 7,001 shares during the quarter. Ledyard National Bank’s holdings in Coupang were worth $508,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of Coupang in the 3rd quarter worth about $28,000. Asset Dedication LLC raised its holdings in Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after acquiring an additional 990 shares during the period. Berbice Capital Management LLC purchased a new stake in Coupang during the 4th quarter worth about $31,000. Van ECK Associates Corp lifted its holdings in shares of Coupang by 63.1% in the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after buying an additional 484 shares in the last quarter. Finally, Wolff Wiese Magana LLC boosted its holdings in Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after purchasing an additional 1,295 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Insider Transactions at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the completion of the transaction, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the sale, the chief executive officer now directly owns 2,000,000 shares in the company, valued at $45,940,000. The trade was a 88.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,009,234 shares of company stock worth $344,761,515. 13.60% of the stock is currently owned by insiders.

Coupang Stock Down 0.9 %

CPNG opened at $23.65 on Friday. The company has a market cap of $42.54 billion, a P/E ratio of 41.49, a P/E/G ratio of 42.58 and a beta of 1.11. Coupang, Inc. has a 12 month low of $14.10 and a 12 month high of $26.91. The business’s 50-day moving average price is $22.94 and its 200-day moving average price is $23.48. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 EPS. On average, equities analysts expect that Coupang, Inc. will post 0.14 EPS for the current year.

Analysts Set New Price Targets

Separately, Citigroup cut their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Company 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.