Magnetar Financial LLC Makes New Investment in Coupang, Inc. (NYSE:CPNG)

Magnetar Financial LLC purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 145,104 shares of the company’s stock, valued at approximately $3,189,000.

A number of other large investors have also made changes to their positions in CPNG. Wingate Wealth Advisors Inc. acquired a new position in shares of Coupang during the fourth quarter worth $26,000. Brooklyn Investment Group acquired a new position in shares of Coupang during the third quarter worth $28,000. Berbice Capital Management LLC acquired a new position in shares of Coupang during the fourth quarter worth $31,000. Allworth Financial LP increased its position in shares of Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after acquiring an additional 1,986 shares during the period. Finally, Signaturefd LLC increased its position in shares of Coupang by 34.7% in the 4th 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. 83.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CPNG shares. Mizuho upped their target price on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Barclays set a $35.00 target price on Coupang and gave the company an “overweight” rating in a research report on Thursday, February 27th. Citigroup cut their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised 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 investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the sale, the director now directly owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. This represents a 12.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Pranam Kolari sold 8,459 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the sale, the vice president now directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,234 shares of company stock valued at $6,069,015 in the last ninety days. 13.60% of the stock is currently owned by corporate insiders.

Coupang Price Performance

Shares of CPNG opened at $23.34 on Friday. The business’s 50-day moving average is $23.36 and its two-hundred day moving average is $23.91. The company has a market capitalization of $42.13 billion, a P/E ratio of 40.94, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. Coupang, Inc. has a fifty-two week low of $17.34 and a fifty-two week high of $26.91.

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.