15,856 Shares in Coupang, Inc. (NYSE:CPNG) Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC purchased a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,856 shares of the company's stock, valued at approximately $349,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CPNG. FMR LLC raised its stake in Coupang by 32.0% in the third quarter. FMR LLC now owns 27,153,608 shares of the company's stock worth $666,621,000 after buying an additional 6,584,910 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Coupang by 43.2% during the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company's stock valued at $211,868,000 after buying an additional 2,603,046 shares during the last quarter. Coronation Fund Managers Ltd. grew its holdings in shares of Coupang by 53.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company's stock valued at $162,292,000 after buying an additional 2,566,581 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Coupang by 762.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company's stock valued at $68,710,000 after buying an additional 2,474,175 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new stake in shares of Coupang during the fourth quarter valued at $46,388,000. Institutional investors own 83.72% of the company's stock.

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 sale, the vice president now owns 136,806 shares of the company's stock, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 13.60% of the stock is owned by corporate insiders.

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Coupang Price Performance

NYSE CPNG traded down $0.45 during trading hours on Friday, hitting $22.73. 7,307,375 shares of the company's stock traded hands, compared to its average volume of 8,792,675. Coupang, Inc. has a 52-week low of $17.34 and a 52-week high of $26.91. The company has a market capitalization of $40.88 billion, a PE ratio of 39.87, a PEG ratio of 52.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The firm's 50-day moving average is $23.28 and its 200-day moving average is $23.91.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays set a $35.00 price objective on shares of Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a research report on Wednesday, February 26th. Citigroup reduced 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. Finally, Mizuho upped their price target on shares of Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.