Geode Capital Management LLC Increases Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Geode Capital Management LLC increased its position in Coupang, Inc. (NYSE:CPNG) by 4.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,126,268 shares of the company’s stock after acquiring an additional 241,025 shares during the quarter. Geode Capital Management LLC’s holdings in Coupang were worth $134,655,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in Coupang by 85.4% in 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 purchasing an additional 506,622 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Coupang by 23.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock worth $4,861,000 after buying an additional 41,384 shares in the last quarter. Elevate Capital Advisors LLC bought a new stake in Coupang during the fourth quarter valued at $2,618,000. New York Life Investment Management LLC purchased a new position in Coupang during the fourth quarter worth about $349,000. Finally, Ninety One UK Ltd bought a new position in Coupang in the 4th quarter worth about $46,388,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

CPNG stock opened at $19.71 on Tuesday. The firm has a market cap of $35.59 billion, a P/E ratio of 34.59, a P/E/G ratio of 52.20 and a beta of 1.09. The firm’s fifty day moving average is $23.40 and its 200 day moving average is $23.83. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Insider Buying and Selling at Coupang

In related news, Director Benjamin Sun sold 250,000 shares of the business’s stock in a transaction dated 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 owns 1,719,421 shares in the company, valued at $40,286,034.03. The trade was a 12.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,143,801.88. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

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

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.