FIL Ltd Has $911,000 Stake in Coupang, Inc. (NYSE:CPNG)

FIL Ltd raised its position in shares of Coupang, Inc. (NYSE:CPNG) by 16.3% in the fourth quarter, Holdings Channel reports. The fund owned 41,446 shares of the company’s stock after buying an additional 5,822 shares during the quarter. FIL Ltd’s holdings in Coupang were worth $911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in CPNG. Wingate Wealth Advisors Inc. bought a new stake in Coupang in the 4th quarter valued at $26,000. Berbice Capital Management LLC acquired a new stake in Coupang during the fourth quarter worth about $31,000. Allworth Financial LP increased its stake in Coupang by 11,033.3% during the fourth 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. Signaturefd LLC raised its holdings in 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 in the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of Coupang during the 4th quarter worth approximately $80,000. 83.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Coupang Price Performance

Shares of Coupang stock opened at $21.68 on Monday. The stock has a market capitalization of $39.13 billion, a price-to-earnings ratio of 38.03, a P/E/G ratio of 52.20 and a beta of 1.09. The firm’s 50-day moving average price is $23.10 and its two-hundred day moving average price is $23.68. 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, Inc. has a 1-year low of $18.16 and a 1-year high of $26.91.

Insider Transactions at Coupang

In other news, 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 transaction of $5,857,500.00. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Pranam Kolari sold 8,459 shares of the firm’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 transaction of $194,387.82. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.

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.