Clearbridge Investments LLC Has $327,000 Holdings in Coupang, Inc. (NYSE:CPNG)

Clearbridge Investments LLC boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 75.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,862 shares of the company’s stock after buying an additional 6,414 shares during the period. Clearbridge Investments LLC’s holdings in Coupang were worth $327,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its holdings in shares of Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock valued at $24,182,000 after acquiring an additional 506,622 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Coupang by 23.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock valued at $4,861,000 after purchasing an additional 41,384 shares during the last quarter. Elevate Capital Advisors LLC bought a new position in shares of Coupang in the fourth quarter valued at approximately $2,618,000. Charles Schwab Investment Management Inc. raised 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 valued at $18,640,000 after purchasing an additional 138,416 shares during the period. Finally, New York Life Investment Management LLC acquired a new stake in shares of Coupang in the fourth quarter worth $349,000. 83.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm’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 owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were 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 owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by corporate insiders.

Coupang Price Performance

Shares of CPNG stock opened at $21.45 on Friday. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $26.91. The company has a market capitalization of $38.73 billion, a P/E ratio of 37.64, a P/E/G ratio of 52.20 and a beta of 1.10. The stock has a 50 day moving average of $23.51 and a two-hundred day moving average of $23.90. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

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.