Prosperity Wealth Management Inc. Makes New $274,000 Investment in Coupang, Inc. (NYSE:CPNG)

Prosperity Wealth Management Inc. purchased a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,500 shares of the company's stock, valued at approximately $274,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake 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 acquiring an additional 41,384 shares in the last quarter. Allworth Financial LP grew its position in shares of Coupang by 11,033.3% during 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 in the last quarter. CIBC Asset Management Inc grew its position in shares of Coupang by 12.1% during the 4th quarter. CIBC Asset Management Inc now owns 61,305 shares of the company's stock valued at $1,347,000 after purchasing an additional 6,596 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Coupang by 3.4% during the 4th quarter. D.A. Davidson & CO. now owns 125,539 shares of the company's stock valued at $2,759,000 after purchasing an additional 4,166 shares in the last quarter. Finally, Alberta Investment Management Corp grew its position in shares of Coupang by 7.0% during the 4th quarter. Alberta Investment Management Corp now owns 481,908 shares of the company's stock valued at $10,592,000 after purchasing an additional 31,423 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Price Performance

Shares of CPNG traded up $0.09 during midday trading on Friday, reaching $28.49. The stock had a trading volume of 12,814,326 shares, compared to its average volume of 8,000,691. The company has a market capitalization of $51.73 billion, a price-to-earnings ratio of 203.53 and a beta of 1.15. The company's 50-day moving average is $25.98 and its 200 day moving average is $24.01. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. Coupang, Inc. has a 12-month low of $18.16 and a 12-month high of $29.12.

Coupang (NYSE:CPNG - Get Free Report) last announced 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 net margin of 0.82% and a return on equity of 10.07%. The business had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $8.02 billion. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities analysts predict that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on CPNG shares. Barclays boosted their price target on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. Wall Street Zen raised Coupang from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Coupang has a consensus rating of "Moderate Buy" and a consensus price target of $29.64.

Insider Buying and Selling at Coupang

In other Coupang news, 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 completion of the sale, the vice president now owns 177,106 shares of the company's stock, valued at $4,223,978.10. This represents a 5.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 40,459,697 shares of company stock worth $1,067,780,811 over the last three months. Company insiders own 12.78% of the company's stock.

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.