Blueshift Asset Management LLC Buys New Stake in Coupang, Inc. (NYSE:CPNG)

Blueshift Asset Management LLC bought a new position in Coupang, Inc. (NYSE:CPNG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,375 shares of the company's stock, valued at approximately $338,000.

A number of other hedge funds have also added to or reduced their stakes in CPNG. Magnetar Financial LLC bought a new position in Coupang in the 4th quarter worth $3,189,000. Royal London Asset Management Ltd. boosted its stake in shares of Coupang by 1.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 484,315 shares of the company's stock worth $10,645,000 after acquiring an additional 7,294 shares during the period. Platinum Investment Management Ltd. purchased a new stake in shares of Coupang during the fourth quarter worth about $794,000. Xponance Inc. raised its stake in Coupang by 7.8% during the 4th quarter. Xponance Inc. now owns 158,459 shares of the company's stock valued at $3,483,000 after purchasing an additional 11,439 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Coupang by 34.7% during the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after purchasing an additional 822 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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Insider Transactions at Coupang

In related news, Director Benjamin Sun sold 250,000 shares of the company's stock in a transaction on 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 directly owns 1,719,421 shares of the company's stock, valued at $40,286,034.03. This represents a 12.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the firm's stock in a transaction dated 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 transaction, the vice president now owns 136,806 shares of the company's stock, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,234 shares of company stock valued at $6,069,015 in the last 90 days. Insiders own 13.60% of the company's stock.

Coupang Stock Up 0.7 %

Shares of NYSE:CPNG traded up $0.17 on Wednesday, reaching $23.57. The company had a trading volume of 7,683,099 shares, compared to its average volume of 8,291,338. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $42.56 billion, a PE ratio of 41.36, a PEG ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a 52-week low of $17.55 and a 52-week high of $26.91. The firm's 50 day simple moving average is $23.47 and its 200-day simple moving average is $23.95.

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.