Prosperity Wealth Management Inc. Acquires New Shares in Coupang, Inc. (NYSE:CPNG)

Prosperity Wealth Management Inc. purchased a new position in Coupang, Inc. (NYSE:CPNG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,500 shares of the company's stock, valued at approximately $274,000.

Other large investors also recently bought and sold shares of the company. Grove Bank & Trust acquired a new position in Coupang in the 1st quarter worth about $33,000. Itau Unibanco Holding S.A. raised 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 purchasing an additional 1,640 shares during the period. Allworth Financial LP raised its holdings in Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company's stock worth $45,000 after purchasing an additional 1,986 shares during the period. TD Waterhouse Canada Inc. raised its holdings in shares of Coupang by 142.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after acquiring an additional 1,429 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Coupang by 34.7% during the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after acquiring an additional 822 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Insider Activity at Coupang

In related news, Director Benjamin Sun sold 200,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total value of $5,672,000.00. Following the transaction, the director now directly owns 1,319,421 shares in the company, valued at approximately $37,418,779.56. This represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Pranam Kolari sold 9,347 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the completion of the transaction, the vice president now owns 177,106 shares in the company, valued at $4,223,978.10. This represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,459,697 shares of company stock worth $1,067,780,811. Insiders own 12.78% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays increased their target price on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Mizuho raised Coupang to a "hold" rating in a report 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 for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.64.

Coupang Trading Up 0.5%

NYSE CPNG traded up $0.13 on Thursday, reaching $28.38. 8,252,471 shares of the company were exchanged, compared to its average volume of 8,001,639. The business's fifty day moving average price is $25.69 and its 200 day moving average price is $23.95. The stock has a market capitalization of $51.53 billion, a P/E ratio of 202.72 and a beta of 1.15. 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 fifty-two week low of $18.16 and a fifty-two week high of $29.12.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. Coupang had a return on equity of 10.07% and a net margin of 0.82%. Coupang's quarterly revenue was up 11.2% compared to the same quarter last year. Analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current year.

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.