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

Merit Financial Group LLC acquired a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,052 shares of the company's stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPNG. Empowered Funds LLC bought a new stake in shares of Coupang during the fourth quarter worth approximately $772,000. Sovran Advisors LLC acquired a new position in Coupang during the fourth quarter valued at approximately $500,000. Leavell Investment Management Inc. raised its position in Coupang by 64.3% during the fourth 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 raised its position in Coupang by 23.4% during the fourth 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 grew its stake in shares of Coupang by 8.4% during the fourth quarter. AMS Capital Ltda now owns 236,914 shares of the company's stock worth $5,207,000 after buying an additional 18,268 shares during the last quarter. Institutional investors own 83.72% of the company's stock.

Insider Buying and Selling

In other Coupang news, CFO Gaurav Anand sold 175,000 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now directly owns 2,092,290 shares of the company's stock, valued at approximately $58,814,271.90. This represents a 7.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the completion of the sale, the insider now directly owns 319,542,259 shares of the company's stock, valued at $8,228,213,169.25. The trade was a 8.58% 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 worth $791,138,311 in the last quarter. Insiders own 12.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CPNG shares. Barclays boosted their target price on shares of Coupang from $35.00 to $36.00 and gave the stock 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 target price on the stock in a research note on Wednesday, February 26th. One investment 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.64.

Coupang Stock Down 0.7%

Shares of NYSE CPNG traded down $0.21 during trading on Friday, hitting $28.10. 7,556,473 shares of the company traded hands, compared to its average volume of 8,049,813. The business's fifty day moving average is $25.26 and its 200 day moving average is $23.88. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $29.12. The firm has a market capitalization of $51.02 billion, a price-to-earnings ratio of 49.30, 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.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share 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 during the quarter, compared to analyst estimates of $8.02 billion. The business's revenue was up 11.2% on a year-over-year basis. Equities research analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current fiscal 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.