Equita Financial Network Inc. Makes New $291,000 Investment in Coupang, Inc. (NYSE:CPNG)

Equita Financial Network Inc. acquired a new position in Coupang, Inc. (NYSE:CPNG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,258 shares of the company's stock, valued at approximately $291,000.

Several other large investors also recently modified their holdings of CPNG. Norges Bank bought a new stake in shares of Coupang in the fourth quarter worth $404,896,000. Price T Rowe Associates Inc. MD lifted its position 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 valued at $1,663,594,000 after purchasing an additional 17,123,637 shares in the last quarter. Durable Capital Partners LP lifted its position in Coupang by 13.6% during the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock valued at $629,426,000 after purchasing an additional 3,420,133 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Coupang by 106.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company's stock valued at $127,017,000 after purchasing an additional 2,979,981 shares in the last quarter. Finally, FMR LLC lifted its position in Coupang by 9.1% during the fourth quarter. FMR LLC now owns 29,619,581 shares of the company's stock valued at $651,038,000 after purchasing an additional 2,465,973 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Coupang Price Performance

Shares of NYSE:CPNG traded up $0.24 during mid-day trading on Friday, reaching $30.27. The stock had a trading volume of 6,639,547 shares, compared to its average volume of 8,262,743. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The company has a market cap of $54.96 billion, a P/E ratio of 216.21 and a beta of 1.16. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $30.91. The business's 50 day moving average price is $27.40 and its 200 day moving average price is $24.37.

Coupang (NYSE:CPNG - Get Free Report) last posted 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). The firm had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $8.02 billion. Coupang had a return on equity of 10.07% and a net margin of 0.82%. The company's quarterly revenue was up 11.2% compared to the same quarter last year. Research analysts expect that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Gaurav Anand sold 175,000 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $28.11, for a total value of $4,919,250.00. Following the sale, the chief financial officer directly owned 2,092,290 shares in the company, valued at approximately $58,814,271.90. The trade was a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greenoaks Capital Partners Llc bought 650,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $26.86 per share, for a total transaction of $17,459,000.00. Following the completion of the transaction, the director directly owned 55,131,161 shares of the company's stock, valued at $1,480,822,984.46. This represents a 1.19% increase in their position. The disclosure for this purchase can be found here. Insiders sold 40,459,697 shares of company stock valued at $1,067,780,811 in the last ninety days. Company insiders own 12.78% of the company's stock.

Analysts Set New Price Targets

CPNG has been the topic of several analyst reports. Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. Barclays lifted their target price on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.08.

Coupang Company 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.