Sumitomo Mitsui Trust Group Inc. Sells 74,821 Shares of Coupang, Inc. $CPNG

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 29.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 178,956 shares of the company’s stock after selling 74,821 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Coupang were worth $2,482,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CPNG. Pinnacle Wealth Planning Services Inc. grew its holdings in Coupang by 652.6% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,702 shares of the company’s stock worth $37,000 after acquiring an additional 2,343 shares during the last quarter. Main Street Group LTD bought a new position in shares of Coupang during the first quarter valued at $40,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Coupang during the third quarter valued at $40,000. Trellis Wealth Advisors LLC acquired a new position in shares of Coupang during the third quarter worth $44,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Coupang by 94.6% during the third quarter. Versant Capital Management Inc now owns 3,478 shares of the company’s stock worth $48,000 after purchasing an additional 1,691 shares during the period. 83.72% of the stock is owned by institutional investors.

Key Coupang News

Here are the key news stories impacting Coupang this week:

• Positive Sentiment: Analyst actions are broadly supportive: Barclays raised its price target to $32 and maintained an Overweight rating, while Citi upgraded Coupang to Buy with a $19 target. Barclays rating Citi upgrade
• Positive Sentiment: Q3 constant-currency revenue grew 11% year over year, and Taiwan WOW membership more than doubled. These growth figures may help reinforce the longer-term expansion story. Q3 investor takeaways
• Neutral Sentiment: Wall Street analyst coverage remains divided: Bernstein cut its target to $11 and kept an Underperform rating, contrasting with the recent upgrades. Bernstein rating
• Negative Sentiment: A Seoul court dismissed Coupang’s suit challenging a fine from South Korea’s data-protection agency, leaving an adverse regulatory decision in place and adding legal risk. Court ruling
• Negative Sentiment: Despite revenue exceeding estimates, Coupang’s latest quarterly EPS missed analysts’ expectations, and coverage highlighted widening losses. That earnings-quality concern may temper optimism around the growth and analyst upgrades. Q3 growth and losses analysis

Insiders Place Their Bets

In other news, insider Harold Rogers sold 192,110 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the sale, the insider directly owned 740,931 shares in the company, valued at $11,988,263.58. This represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $13.65, for a total transaction of $75,334.35. Following the sale, the chief accounting officer owned 176,396 shares of the company’s stock, valued at approximately $2,407,805.40. This trade represents a 3.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 203,148 shares of company stock worth $3,272,530. Insiders own 12.83% of the company’s stock.

Coupang Stock Performance

NYSE:CPNG opened at $16.27 on Friday. The company has a market capitalization of $29.25 billion, a PE ratio of -21.41 and a beta of 1.15. The company has a 50 day simple moving average of $14.74 and a two-hundred day simple moving average of $17.15. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.68 and a current ratio of 0.80. Coupang, Inc. has a fifty-two week low of $13.35 and a fifty-two week high of $29.50.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.09). The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.76 billion. Coupang had a negative return on equity of 21.51% and a negative net margin of 3.77%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. Research analysts anticipate that Coupang, Inc. will post -0.60 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPNG. Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a research note on Monday, November 2nd. Bank of America decreased their price objective on Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Mizuho set a $21.00 target price on Coupang in a research report on Wednesday. Sanford C. Bernstein cut their target price on Coupang from $12.00 to $11.00 and set an “underperform” rating on the stock in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and reduced their price target for the company from $23.00 to $21.50 in a research report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.41.

Coupang Profile

Coupang, Inc is an e-commerce and technology company best known for its online marketplace in South Korea. The platform offers products across categories such as electronics, apparel, household goods and groceries, combining third-party sellers with retail operations and a network of fulfillment and delivery services.

Its services include Rocket Delivery for rapid shipping, Rocket Fresh for grocery delivery and Coupang Eats for food delivery. Coupang also offers Coupang Play, a video-streaming service, and operates a paid membership program called Rocket Wow.