Ardmore Road Asset Management LP Acquires New Position in Coupang, Inc. (NYSE:CPNG)

Ardmore Road Asset Management LP purchased a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 350,000 shares of the company's stock, valued at approximately $7,693,000.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Coupang during the 4th quarter valued at about $35,580,000. Geode Capital Management LLC boosted its position in Coupang by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 6,126,268 shares of the company's stock valued at $134,655,000 after acquiring an additional 241,025 shares in the last quarter. National Bank of Canada FI raised its position in shares of Coupang by 8.6% in the 4th quarter. National Bank of Canada FI now owns 6,944 shares of the company's stock worth $153,000 after acquiring an additional 548 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Coupang by 6.5% in the 4th quarter. Franklin Resources Inc. now owns 111,027 shares of the company's stock valued at $2,440,000 after purchasing an additional 6,806 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Coupang by 116.1% in the 4th quarter. Alliancebernstein L.P. now owns 791,556 shares of the company's stock valued at $17,398,000 after purchasing an additional 425,184 shares during the period. Institutional investors own 83.72% of the company's stock.

Insider Activity

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the transaction, the director now owns 1,719,421 shares of the company's stock, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Pranam Kolari sold 8,459 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the sale, the vice president now owns 136,806 shares of the company's stock, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 13.60% of the company's stock.

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Coupang Stock Down 3.4 %

Shares of CPNG stock traded down $0.69 during mid-day trading on Monday, hitting $19.38. The company's stock had a trading volume of 7,834,547 shares, compared to its average volume of 8,200,819. 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 52-week low of $18.16 and a 52-week high of $26.91. The stock has a market cap of $34.98 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 52.20 and a beta of 1.09. The business has a 50-day moving average price of $23.46 and a 200 day moving average price of $23.87.

Analysts Set New Price Targets

A number of research firms have issued reports on CPNG. Barclays set a $35.00 price objective on Coupang and gave the stock an "overweight" rating in a report on Thursday, February 27th. 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. Mizuho upped 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. Finally, Citigroup decreased their target price 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.

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.