Coupang, Inc. (NYSE:CPNG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,830,202 shares of the company's stock after selling 91,823 shares during the quarter. Bank of New York Mellon Corp owned about 0.16% of Coupang worth $62,208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Coupang during the 3rd quarter worth about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Coupang during the 4th quarter worth about $26,000. Van ECK Associates Corp lifted its holdings in shares of Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company's stock valued at $32,000 after buying an additional 484 shares during the period. Berbice Capital Management LLC acquired a new position in shares of Coupang in the 4th quarter valued at about $31,000. Finally, Allworth Financial LP lifted its holdings in shares of Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after buying an additional 1,986 shares during the period. Institutional investors and hedge funds own 83.72% of the company's stock.

Insider Activity at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the business's stock in a transaction that occurred 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 sale, the vice president now directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.60% of the stock is owned by company insiders.

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Coupang Price Performance

Shares of Coupang stock traded down $0.45 on Friday, hitting $22.73. The company's stock had a trading volume of 7,307,375 shares, compared to its average volume of 8,792,675. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. Coupang, Inc. has a 1 year low of $17.34 and a 1 year high of $26.91. The firm has a fifty day moving average price of $23.28 and a 200-day moving average price of $23.91. The company has a market capitalization of $40.88 billion, a price-to-earnings ratio of 39.87, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a report on Wednesday, February 26th. Barclays set a $35.00 price objective on Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Mizuho boosted their price objective on Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Finally, Citigroup decreased 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 equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $29.17.

Coupang 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.