Massachusetts Institute of Technology Sells 3,844,740 Shares of Coupang, Inc. $CPNG

Massachusetts Institute of Technology lowered its position in shares of Coupang, Inc. (NYSE:CPNG) by 16.7% in the third quarter, Holdings Channel reports. The firm owned 19,233,932 shares of the company’s stock after selling 3,844,740 shares during the period. Coupang accounts for 67.3% of Massachusetts Institute of Technology’s investment portfolio, making the stock its biggest holding. Massachusetts Institute of Technology’s holdings in Coupang were worth $619,333,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in Coupang in the third quarter worth $32,000. Hilltop National Bank acquired a new position in shares of Coupang in the 3rd quarter valued at $34,000. Fifth Third Bancorp grew its holdings in shares of Coupang by 1,250.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after buying an additional 1,000 shares during the period. Root Financial Partners LLC acquired a new position in Coupang in the third quarter valued at about $40,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Coupang in the second quarter worth about $45,000. Institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

CPNG has been the subject of several research analyst reports. Mizuho decreased their price objective on Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Citigroup reduced their price target on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. UBS Group set a $25.00 price objective on shares of Coupang in a report on Thursday, February 19th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, January 16th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.70.

Coupang Stock Down 1.3%

Coupang stock opened at $18.83 on Tuesday. The company has a fifty day simple moving average of $19.98 and a 200 day simple moving average of $25.99. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14. Coupang, Inc. has a 1-year low of $16.74 and a 1-year high of $34.08. The company has a market cap of $34.39 billion, a P/E ratio of 156.89 and a beta of 1.20.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 earnings per share. Research analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jonathan D. Lee sold 2,679 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $23.62, for a total transaction of $63,277.98. Following the completion of the transaction, the chief accounting officer directly owned 122,096 shares of the company’s stock, valued at approximately $2,883,907.52. This represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.78% of the company’s stock.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.