Cerity Partners LLC Acquires 9,042 Shares of Coupang, Inc. (NYSE:CPNG)

Cerity Partners LLC grew its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 42.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,549 shares of the company's stock after acquiring an additional 9,042 shares during the period. Cerity Partners LLC's holdings in Coupang were worth $670,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Grove Bank & Trust acquired a new position in Coupang during the first quarter worth $33,000. Itau Unibanco Holding S.A. raised its position in Coupang by 520.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after acquiring an additional 1,640 shares during the period. TD Waterhouse Canada Inc. raised its position in Coupang by 142.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after acquiring an additional 1,429 shares during the period. BOCHK Asset Management Ltd acquired a new position in Coupang during the first quarter worth $70,000. Finally, Asset Management One Co. Ltd. raised its position in shares of Coupang by 23.3% in the first quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company's stock valued at $70,000 after buying an additional 606 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPNG has been the subject of a number of recent research reports. Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Mizuho upgraded shares of Coupang to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays increased their target price on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.08.

Coupang Price Performance

Shares of NYSE CPNG traded up $0.12 during trading on Friday, hitting $30.26. 6,157,796 shares of the company were exchanged, compared to its average volume of 10,116,959. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $31.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 0.90. The firm's fifty day moving average price is $29.17 and its 200 day moving average price is $25.25. The company has a market cap of $54.93 billion, a price-to-earnings ratio of 216.11 and a beta of 1.16.

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

Insider Buying and Selling

In other news, VP Pranam Kolari sold 9,347 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the transaction, the vice president directly owned 177,106 shares in the company, valued at $4,223,978.10. The trade was a 5.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gaurav Anand sold 175,000 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total value of $4,919,250.00. Following the completion of the sale, the chief financial officer owned 2,092,290 shares in the company, valued at $58,814,271.90. This trade represents a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,459,697 shares of company stock valued at $1,067,780,811 in the last three months. 12.78% of the stock is owned by corporate insiders.

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.