City Center Advisors LLC Makes New Investment in Coupang, Inc. (NYSE:CPNG)

City Center Advisors LLC bought a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,683 shares of the company's stock, valued at approximately $278,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new stake in Coupang in the 4th quarter worth $26,000. Itau Unibanco Holding S.A. lifted its stake in shares of Coupang by 520.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after purchasing an additional 1,640 shares during the last quarter. Allworth Financial LP raised its stake in shares of Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after acquiring an additional 1,986 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Coupang by 142.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after acquiring an additional 1,429 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after acquiring an additional 822 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports 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 research note on Thursday, May 8th. Mizuho raised shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Coupang presently has an average rating of "Moderate Buy" and an average target price of $29.64.

Coupang Stock Down 0.0%

Shares of CPNG stock traded down $0.01 during trading hours on Wednesday, reaching $28.25. 5,627,914 shares of the company's stock were exchanged, compared to its average volume of 8,951,466. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company has a market cap of $51.29 billion, a price-to-earnings ratio of 49.56, a P/E/G ratio of 52.20 and a beta of 1.15. The stock's 50 day moving average is $24.76 and its 200-day moving average is $23.82. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $29.12.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. The company's revenue was up 11.2% on a year-over-year basis. Analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total value of $772,500,000.00. Following the completion of the transaction, the insider now directly owns 319,542,259 shares of the company's stock, valued at approximately $8,228,213,169.25. This represents a 8.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Pranam Kolari sold 9,347 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the completion of the transaction, the vice president now directly owns 177,106 shares of the company's stock, valued at approximately $4,223,978.10. This represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,709,697 shares of company stock valued at $791,138,311 over the last ninety days. 12.78% of the stock is currently owned by insiders.

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.