Coupang, Inc. (NYSE:CPNG) Holdings Lifted by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 3.3% in the fourth quarter, HoldingsChannel reports. The fund owned 522,638 shares of the company’s stock after buying an additional 16,480 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Coupang were worth $11,488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CPNG. FMR LLC lifted its position in shares of Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company’s stock worth $651,038,000 after purchasing an additional 2,465,973 shares in the last quarter. Norges Bank purchased a new stake in Coupang in the 4th quarter worth approximately $404,896,000. Coronation Fund Managers Ltd. boosted its stake in shares of Coupang by 53.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock valued at $162,292,000 after buying an additional 2,566,581 shares during the period. Geode Capital Management LLC grew its holdings in shares of Coupang by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 6,126,268 shares of the company’s stock valued at $134,655,000 after acquiring an additional 241,025 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Coupang by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,366,214 shares of the company’s stock worth $117,949,000 after acquiring an additional 54,364 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

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

Coupang Stock Up 3.2 %

Shares of Coupang stock opened at $21.68 on Friday. Coupang, Inc. has a 12-month low of $18.16 and a 12-month high of $26.91. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $23.10 and a two-hundred day moving average price of $23.69. The stock has a market capitalization of $39.13 billion, a P/E ratio of 38.03, a PEG ratio of 52.20 and a beta of 1.09.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Benjamin Sun sold 250,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the transaction, the director now directly owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by corporate insiders.

Coupang 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.