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Parkwood LLC Acquires 125,220 Shares of Coupang, Inc. (NYSE:CPNG)

Coupang logo with Retail/Wholesale background

Parkwood LLC raised its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 835.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,203 shares of the company's stock after purchasing an additional 125,220 shares during the quarter. Parkwood LLC's holdings in Coupang were worth $2,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Headinvest LLC bought a new stake in shares of Coupang in the third quarter valued at about $29,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Coupang by 27.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,528 shares of the company's stock valued at $138,000 after acquiring an additional 1,821 shares in the last quarter. Integrity Wealth Solutions LLC purchased a new position in Coupang in the fourth quarter valued at about $163,000. Klingman & Associates LLC purchased a new position in Coupang in the fourth quarter valued at about $195,000. Finally, Harbour Capital Advisors LLC purchased a new position in Coupang in the fourth quarter valued at about $203,000. 83.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CPNG shares. TheStreet upgraded Coupang from a "d+" rating to a "c-" rating in a research note on Tuesday, March 5th. Bank of America started coverage on Coupang in a research note on Friday, May 3rd. They set a "buy" rating and a $30.00 price target on the stock. Citigroup boosted their price target on Coupang from $26.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, May 8th. UBS Group upgraded Coupang from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $18.50 to $26.00 in a research note on Thursday, May 16th. Finally, Mizuho boosted their price target on Coupang from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Coupang currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.67.


Get Our Latest Analysis on CPNG

Coupang Price Performance

Shares of CPNG stock traded down $0.99 during trading hours on Thursday, hitting $21.71. 10,209,374 shares of the company's stock were exchanged, compared to its average volume of 12,078,814. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.67. The firm has a market cap of $38.81 billion, a P/E ratio of 31.01, a P/E/G ratio of 9.11 and a beta of 1.12. The firm has a 50 day moving average of $22.09 and a two-hundred day moving average of $18.35. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $23.77.

Coupang (NYSE:CPNG - Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coupang had a return on equity of 13.59% and a net margin of 4.96%. The business had revenue of $7.11 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same period in the previous year, the company earned $0.05 earnings per share. The company's quarterly revenue was up 22.6% compared to the same quarter last year. Sell-side analysts forecast that Coupang, Inc. will post 0.13 EPS for the current year.

Insider Activity at Coupang

In related news, insider Pranam Kolari sold 2,048 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the transaction, the insider now directly owns 187,951 shares of the company's stock, valued at approximately $4,198,825.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Coupang news, insider Harold Rogers sold 139,080 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $18.25, for a total value of $2,538,210.00. Following the completion of the sale, the insider now directly owns 394,192 shares in the company, valued at approximately $7,194,004. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Pranam Kolari sold 2,048 shares of the company's stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the sale, the insider now owns 187,951 shares of the company's stock, valued at $4,198,825.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,618 shares of company stock valued at $3,760,028. 13.60% of the stock is owned by insiders.

Coupang Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Coupang (NYSE:CPNG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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