12,052 Shares in Coupang, Inc. (NYSE:CPNG) Purchased by Merit Financial Group LLC

Merit Financial Group LLC purchased 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 and Exchange Commission. The institutional investor purchased 12,052 shares of the company's stock, valued at approximately $264,000.

Several other hedge funds have also recently modified their holdings of the business. Empowered Funds LLC bought a new position in shares of Coupang during the 4th quarter worth approximately $772,000. Sovran Advisors LLC acquired a new position in Coupang during the 4th quarter valued at approximately $500,000. Leavell Investment Management Inc. increased its stake in Coupang by 64.3% during the 4th quarter. Leavell Investment Management Inc. now owns 18,400 shares of the company's stock valued at $404,000 after purchasing an additional 7,200 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Coupang by 23.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company's stock valued at $4,861,000 after purchasing an additional 41,384 shares in the last quarter. Finally, AMS Capital Ltda increased its stake in Coupang by 8.4% during the 4th quarter. AMS Capital Ltda now owns 236,914 shares of the company's stock valued at $5,207,000 after purchasing an additional 18,268 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Coupang Stock Performance

NYSE CPNG traded up $0.25 during mid-day trading on Monday, reaching $28.35. 6,519,413 shares of the stock were exchanged, compared to its average volume of 8,043,689. The company has a market capitalization of $51.46 billion, a P/E ratio of 49.73, a P/E/G ratio of 52.20 and a beta of 1.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The business's 50 day moving average is $25.43 and its 200-day moving average is $23.89. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $29.12.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CPNG shares. Barclays upped their price target 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. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target on the stock in a research note on Wednesday, February 26th. Finally, Mizuho raised shares of Coupang to a "hold" rating in a report on Friday, April 18th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Coupang has a consensus rating of "Moderate Buy" and a consensus price target of $29.64.

Insider Activity at Coupang

In related news, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the sale, the insider now owns 319,542,259 shares in the company, valued at approximately $8,228,213,169.25. This trade represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $222,925.95. Following the transaction, the vice president now directly owns 177,106 shares in the company, valued at approximately $4,223,978.10. The trade was a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,459,697 shares of company stock worth $785,280,811. 12.78% of the stock is owned by company 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.