Merit Financial Group LLC Invests $264,000 in Coupang, Inc. (NYSE:CPNG)

Merit Financial Group LLC bought a new stake in Coupang, Inc. (NYSE:CPNG) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,052 shares of the company’s stock, valued at approximately $264,000.

Several other large investors have also modified their holdings of CPNG. Itau Unibanco Holding S.A. boosted its holdings in Coupang by 520.6% in the fourth 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 lifted its holdings in shares of Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after buying an additional 1,986 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Coupang by 142.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company’s stock valued at $53,000 after purchasing an additional 1,429 shares in the last quarter. Signaturefd LLC grew its position in Coupang by 34.7% in 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 period. Finally, Atala Financial Inc bought a new stake in shares of Coupang during the fourth quarter worth $80,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPNG has been the topic of a number of research analyst reports. Barclays raised their price target on Coupang from $35.00 to $36.00 and gave the stock 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.64.

Insider Buying and Selling

In related news, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the transaction, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This trade represents a 12.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Gaurav Anand sold 175,000 shares of Coupang stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the sale, the chief financial officer now directly owns 2,092,290 shares of the company’s stock, valued at $58,814,271.90. This represents a 7.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,709,697 shares of company stock valued at $791,138,311. 12.78% of the stock is owned by company insiders.

Coupang Stock Performance

NYSE CPNG opened at $28.28 on Friday. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $29.12. The firm has a market cap of $51.35 billion, a PE ratio of 49.61, a price-to-earnings-growth ratio of 52.20 and a beta of 1.15. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average of $25.09 and a 200-day moving average of $23.87.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $8.02 billion. The business’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

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.