Mitsubishi UFJ Trust & Banking Corp Trims Stake in Coupang, Inc. (NYSE:CPNG)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Coupang, Inc. (NYSE:CPNG) by 3.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,997,431 shares of the company’s stock after selling 68,512 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.11% of Coupang worth $43,904,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in shares of Coupang in the 3rd quarter valued at about $250,000. Charles Schwab Investment Management Inc. increased its position in shares of Coupang by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after purchasing an additional 138,416 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Coupang in the third quarter worth approximately $490,000. Bank of Hawaii purchased a new stake in Coupang in the third quarter valued at approximately $598,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Coupang during the third quarter valued at approximately $760,000. Institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction of $194,387.82. Following the completion of the transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the firm’s 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 sale, the director now directly owns 1,719,421 shares in the company, valued at $40,286,034.03. The trade was a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 259,234 shares of company stock worth $6,069,015. 13.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

CPNG has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research report on Wednesday, February 26th. Barclays set a $35.00 price target on Coupang and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Citigroup cut their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Mizuho boosted their target price on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Coupang Trading Down 0.7 %

Shares of CPNG stock opened at $23.42 on Wednesday. The business has a 50-day moving average of $23.47 and a 200 day moving average of $23.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1-year low of $17.55 and a 1-year high of $26.91. The stock has a market capitalization of $42.28 billion, a PE ratio of 41.09, a P/E/G ratio of 52.20 and a beta of 1.10.

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.