City Center Advisors LLC Makes New $278,000 Investment in Coupang, Inc. (NYSE:CPNG)

City Center Advisors LLC bought a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,683 shares of the company's stock, valued at approximately $278,000.

Several other large investors also recently modified their holdings of CPNG. Advisory Resource Group grew its holdings in shares of Coupang by 5.1% during the 4th quarter. Advisory Resource Group now owns 46,354 shares of the company's stock worth $1,019,000 after purchasing an additional 2,258 shares in the last quarter. Empowered Funds LLC acquired a new stake in Coupang in the fourth quarter valued at about $772,000. Coronation Fund Managers Ltd. boosted its stake in Coupang by 53.3% in the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company's stock valued at $162,292,000 after buying an additional 2,566,581 shares in the last quarter. Angeles Wealth Management LLC boosted its stake in Coupang by 0.8% in the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company's stock valued at $1,211,000 after buying an additional 459 shares in the last quarter. Finally, Elevate Capital Advisors LLC acquired a new stake in Coupang in the fourth quarter valued at about $2,618,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Coupang Price Performance

Shares of CPNG opened at $28.46 on Friday. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $28.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The company has a market capitalization of $51.67 billion, a price-to-earnings ratio of 49.93, a price-to-earnings-growth ratio of 52.20 and a beta of 1.15. The business has a 50-day moving average of $24.50 and a 200-day moving average of $23.76.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data 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 11.52% and a net margin of 3.57%. The company had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.02 billion. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Transactions at Coupang

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of Coupang stock in a transaction that occurred 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 sale, the insider now directly owns 319,542,259 shares in the company, valued at approximately $8,228,213,169.25. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of Coupang stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $26.10, for a total value of $1,966,635.00. Following the completion of the sale, the chief financial officer now owns 2,267,290 shares of the company's stock, valued at approximately $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. Insiders sold 30,709,697 shares of company stock worth $791,138,311 over the last ninety days. 12.78% of the stock is 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.

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