M&T Bank Corp Has $9.88 Million Position in Coupang, Inc. (NYSE:CPNG)

M&T Bank Corp cut its stake in shares of Coupang, Inc. (NYSE:CPNG) by 0.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 402,555 shares of the company’s stock after selling 2,594 shares during the quarter. M&T Bank Corp’s holdings in Coupang were worth $9,883,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after purchasing an additional 484 shares during the last quarter. Covestor Ltd increased its holdings in shares of Coupang by 10.4% during the third quarter. Covestor Ltd now owns 6,479 shares of the company’s stock worth $159,000 after buying an additional 612 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in shares of Coupang by 6.0% in the second quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock valued at $235,000 after acquiring an additional 635 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Coupang by 2.2% in the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock worth $850,000 after acquiring an additional 747 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Coupang by 15.4% during the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock worth $141,000 after acquiring an additional 890 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Up 0.9 %

Shares of NYSE CPNG opened at $22.94 on Monday. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The firm’s 50-day moving average is $24.71 and its 200-day moving average is $23.16. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $41.27 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 215.03 and a beta of 1.07.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The firm had revenue of $7.87 billion for 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 business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the firm earned $0.05 earnings per share. Equities analysts expect that Coupang, Inc. will post 0.11 EPS for the current year.

Insider Activity at Coupang

In other news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the acquisition, the director now directly owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. This represents a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the sale, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. This represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CPNG has been the topic of a number of recent analyst reports. CLSA raised Coupang from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.56.

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.