Coupang, Inc. (NYSE:CPNG) Position Lifted by Martingale Asset Management L P

Martingale Asset Management L P raised its stake in Coupang, Inc. (NYSE:CPNG) by 35.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 62,818 shares of the company’s stock after purchasing an additional 16,542 shares during the period. Martingale Asset Management L P’s holdings in Coupang were worth $1,381,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its holdings in Coupang by 4.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock valued at $253,000 after buying an additional 452 shares during the last quarter. Angeles Wealth Management LLC raised its position in shares of Coupang by 0.8% during the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock valued at $1,211,000 after acquiring an additional 459 shares in the last quarter. IFP Advisors Inc lifted its stake in Coupang by 3.8% during the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after purchasing an additional 469 shares during the last quarter. Ignite Planners LLC boosted its holdings in Coupang by 2.5% in the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after purchasing an additional 483 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Coupang by 8.6% in the fourth quarter. National Bank of Canada FI now owns 6,944 shares of the company’s stock worth $153,000 after purchasing an additional 548 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Trading Up 3.2 %

Shares of CPNG stock opened at $21.68 on Friday. The firm has a market capitalization of $39.13 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. 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 1 year low of $18.16 and a 1 year high of $26.91. The stock has a fifty day moving average of $23.10 and a two-hundred day moving average of $23.69.

Wall Street Analyst Weigh In

CPNG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a report on Wednesday, February 26th. Mizuho increased their target price on Coupang from $25.00 to $27.00 and gave the stock 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 note on Thursday, February 27th. Finally, Citigroup lowered their price target on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Coupang currently has an average rating of “Moderate Buy” and an average target price of $29.17.

Insider Activity at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the 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 completion of the transaction, the vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Benjamin Sun sold 250,000 shares of the firm’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 owns 1,719,421 shares in the company, valued at $40,286,034.03. This represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

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.