Prospect Financial Services LLC Increases Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Prospect Financial Services LLC boosted its stake in shares of Coupang, Inc. (NYSE:CPNG) by 51.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,635 shares of the company’s stock after buying an additional 4,650 shares during the quarter. Prospect Financial Services LLC’s holdings in Coupang were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CPNG. Brooklyn Investment Group purchased a new stake in Coupang in the third quarter worth $28,000. Asset Dedication LLC grew its holdings in shares of Coupang by 438.1% in the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after purchasing an additional 990 shares during the last quarter. Berbice Capital Management LLC purchased a new position in Coupang in the 4th quarter worth about $31,000. Van ECK Associates Corp lifted its holdings in Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after buying an additional 484 shares in the last quarter. Finally, Wolff Wiese Magana LLC boosted its position in Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after buying an additional 1,295 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at $45,940,000. This trade represents a 88.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $24.08 per share, with a total value of $16,559,816.00. Following the acquisition, the director now owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This represents a 1.32 % increase in their position. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

CPNG has been the topic of several research analyst reports. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Monday, October 7th. Citigroup dropped their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Coupang has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Stock Performance

Shares of CPNG opened at $22.72 on Tuesday. 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 stock has a 50-day moving average of $23.16 and a two-hundred day moving average of $23.35. The stock has a market cap of $40.86 billion, a P/E ratio of 39.85, a P/E/G ratio of 38.88 and a beta of 1.10. Coupang, Inc. has a one year low of $13.51 and a one year high of $26.91.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s revenue was up 27.2% compared to the same quarter last year. As a group, research analysts predict that Coupang, Inc. will post 0.14 EPS 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.