AXQ Capital LP Acquires New Stake in Coupang, Inc. (NYSE:CPNG)

AXQ Capital LP acquired a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,038 shares of the company's stock, valued at approximately $594,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Coupang during the 3rd quarter worth about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coupang in the fourth quarter valued at approximately $26,000. Berbice Capital Management LLC bought a new stake in Coupang during the 4th quarter worth about $31,000. Allworth Financial LP boosted its holdings in shares of Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after buying an additional 1,986 shares during the last quarter. Finally, Signaturefd LLC increased its position in Coupang by 34.7% during the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock worth $70,000 after buying an additional 822 shares during the last quarter. Institutional investors own 83.72% of the company's stock.

Analysts Set New Price Targets

CPNG has been the subject of several analyst reports. 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 note on Wednesday, February 26th. Mizuho upped their target price on Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Citigroup decreased their price target on Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays set a $35.00 target price on shares of Coupang and gave the stock an "overweight" rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

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Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the company's stock in a transaction on Monday, February 3rd. The stock was 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 directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the 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 approximately $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 259,234 shares of company stock valued at $6,069,015. 13.60% of the stock is owned by company insiders.

Coupang Stock Down 0.3 %

Shares of NYSE CPNG traded down $0.07 on Thursday, reaching $23.51. 7,658,615 shares of the company's stock traded hands, compared to its average volume of 8,284,795. Coupang, Inc. has a 12 month low of $17.55 and a 12 month high of $26.91. The company has a market cap of $42.44 billion, a price-to-earnings ratio of 41.24, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The business's 50 day simple moving average is $23.49 and its two-hundred day simple moving average is $23.94. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

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.