Aries Wealth Management Purchases Shares of 9,240 Coupang, Inc. (NYSE:CPNG)

Aries Wealth Management acquired a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 9,240 shares of the company's stock, valued at approximately $203,000.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Coupang during the 4th quarter worth approximately $404,896,000. Price T Rowe Associates Inc. MD boosted its stake in Coupang by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after buying an additional 17,123,637 shares during the last quarter. Durable Capital Partners LP grew its holdings in Coupang by 13.6% in the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock valued at $629,426,000 after buying an additional 3,420,133 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Coupang by 106.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company's stock worth $127,017,000 after acquiring an additional 2,979,981 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Coupang by 9.1% during the 4th quarter. FMR LLC now owns 29,619,581 shares of the company's stock worth $651,038,000 after acquiring an additional 2,465,973 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Barclays boosted their target price on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a research report on Wednesday, February 26th. Finally, Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.64.

Coupang Trading Down 0.2%

Shares of CPNG traded down $0.06 during midday trading on Tuesday, hitting $28.29. 4,941,381 shares of the stock were exchanged, compared to its average volume of 8,010,388. Coupang, Inc. has a 52-week low of $18.16 and a 52-week high of $29.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.16. The stock has a fifty day simple moving average of $25.43 and a 200 day simple moving average of $23.89. The firm has a market cap of $51.35 billion, a P/E ratio of 123.22 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. Coupang had a net margin of 0.82% and a return on equity of 10.07%. The firm's quarterly revenue was up 11.2% on a year-over-year basis. On average, research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity at Coupang

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the completion of the transaction, the insider now owns 319,542,259 shares in the company, valued at $8,228,213,169.25. The trade was a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gaurav Anand sold 75,350 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $26.10, for a total transaction of $1,966,635.00. Following the completion of the sale, the chief financial officer now owns 2,267,290 shares in the company, valued at $59,176,269. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,459,697 shares of company stock worth $785,280,811. Corporate insiders own 12.78% of the company's stock.

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.