Charles Schwab Investment Management Inc. Acquires 154,503 Shares of Coupang, Inc. (NYSE:CPNG)

Charles Schwab Investment Management Inc. increased its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 20.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 913,789 shares of the company's stock after buying an additional 154,503 shares during the period. Charles Schwab Investment Management Inc. owned 0.05% of Coupang worth $20,085,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CPNG. Assenagon Asset Management S.A. raised its position in shares of Coupang by 85.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock valued at $24,182,000 after buying an additional 506,622 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Coupang by 23.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company's stock valued at $4,861,000 after buying an additional 41,384 shares in the last quarter. Elevate Capital Advisors LLC acquired a new position in shares of Coupang in the 4th quarter valued at approximately $2,618,000. Plotkin Financial Advisors LLC acquired a new position in shares of Coupang in the 3rd quarter valued at approximately $491,000. Finally, New York Life Investment Management LLC acquired a new position in shares of Coupang in the 4th quarter valued at approximately $349,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Citigroup lowered their price objective 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. 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. 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. Finally, Mizuho boosted their target price on shares of Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $29.17.

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Coupang Stock Down 0.9 %

NYSE CPNG traded down $0.21 on Thursday, hitting $23.34. 3,729,150 shares of the company were exchanged, compared to its average volume of 8,358,332. The company has a market cap of $42.13 billion, a PE ratio of 40.94, a PEG ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a 12 month low of $17.34 and a 12 month high of $26.91. The stock has a fifty day moving average of $23.34 and a 200-day moving average of $23.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the company's stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $194,387.82. Following the transaction, the vice president now owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. 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 over the last ninety days. 13.60% of the stock is owned by corporate insiders.

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.