Franklin Resources Inc. Sells 3,528 Shares of Coupang, Inc. (NYSE:CPNG)

Franklin Resources Inc. lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 3.3% in the third quarter, HoldingsChannel.com reports. The firm owned 104,221 shares of the company’s stock after selling 3,528 shares during the period. Franklin Resources Inc.’s holdings in Coupang were worth $2,672,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Tidal Investments LLC bought a new stake in shares of Coupang during the third quarter worth about $5,646,000. Wilmington Savings Fund Society FSB acquired a new position in Coupang during the 3rd quarter valued at about $1,094,000. Advisory Resource Group increased its holdings in Coupang by 1.9% during the 3rd quarter. Advisory Resource Group now owns 44,096 shares of the company’s stock worth $1,083,000 after purchasing an additional 823 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Coupang by 10.1% in the third quarter. Coldstream Capital Management Inc. now owns 15,517 shares of the company’s stock worth $382,000 after purchasing an additional 1,427 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Coupang by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company’s stock valued at $144,483,000 after purchasing an additional 29,164 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling

In other Coupang news, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction on 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 owns 2,000,000 shares in the company, valued at $45,940,000. This represents a 88.24 % 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 Greenoaks Capital Partners Llc purchased 687,700 shares of Coupang 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 completion of the transaction, the director now owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. This represents a 1.32 % increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by insiders.

Coupang Stock Up 0.3 %

CPNG opened at $22.86 on Thursday. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $26.91. The company’s 50-day moving average price is $24.56 and its two-hundred day moving average price is $23.18. The stock has a market cap of $41.12 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 215.03 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. Coupang’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. As a group, equities analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on CPNG. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Monday, October 7th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and increased their target price for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Coupang currently has an average rating of “Moderate Buy” and a consensus price target 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.