GAMMA Investing LLC Buys 52,990 Shares of Coupang, Inc. (NYSE:CPNG)

GAMMA Investing LLC boosted its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 2,448.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,154 shares of the company's stock after purchasing an additional 52,990 shares during the quarter. GAMMA Investing LLC's holdings in Coupang were worth $1,210,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Itau Unibanco Holding S.A. increased its holdings in Coupang by 520.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after buying an additional 1,640 shares during the period. Allworth Financial LP raised its stake in Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after purchasing an additional 1,986 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in Coupang by 142.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after purchasing an additional 1,429 shares during the last quarter. Signaturefd LLC raised its stake in Coupang by 34.7% in the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after purchasing an additional 822 shares during the last quarter. Finally, Atala Financial Inc purchased a new position in shares of Coupang during the 4th quarter worth $80,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average cost of $26.78 per share, for a total transaction of $20,085,000.00. Following the transaction, the director now directly owns 54,481,161 shares in the company, valued at approximately $1,459,005,491.58. The trade was a 1.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gaurav Anand sold 175,000 shares of the 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 transaction, the chief financial officer now owns 2,092,290 shares in the company, valued at $58,814,271.90. The trade was a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,459,697 shares of company stock valued at $785,280,811. Company insiders own 12.78% of the company's stock.

Coupang Price Performance

Shares of CPNG opened at $28.10 on Monday. The firm has a market cap of $51.02 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 52.20 and a beta of 1.15. The stock has a 50 day moving average of $25.26 and a 200-day moving average of $23.87. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $29.12.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly 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 11.52% and a net margin of 3.57%. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. The company's revenue was up 11.2% on a year-over-year basis. As a group, analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

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.

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