Renaissance Technologies LLC Purchases 340,747 Shares of Coupang, Inc. (NYSE:CPNG)

Renaissance Technologies LLC increased its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,488,575 shares of the company's stock after purchasing an additional 340,747 shares during the quarter. Renaissance Technologies LLC owned about 0.25% of Coupang worth $98,659,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC lifted its stake in Coupang by 9.1% during the fourth quarter. FMR LLC now owns 29,619,581 shares of the company's stock valued at $651,038,000 after purchasing an additional 2,465,973 shares during the last quarter. Norges Bank bought a new stake in shares of Coupang during the 4th quarter worth $404,896,000. State Street Corp boosted its stake in shares of Coupang by 1.9% during the 3rd quarter. State Street Corp now owns 14,125,599 shares of the company's stock worth $346,783,000 after acquiring an additional 259,400 shares in the last quarter. Coronation Fund Managers Ltd. raised its position 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 worth $162,292,000 after purchasing an additional 2,566,581 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Coupang by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 6,126,268 shares of the company's stock worth $134,655,000 after purchasing an additional 241,025 shares during the period. 83.72% of the stock is currently owned by institutional investors.

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Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction on Monday, February 3rd. The shares were 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 $3,143,801.88. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of Coupang 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 completion of the sale, the director now directly owns 1,719,421 shares of the company's stock, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.60% of the company's stock.

Coupang Price Performance

Shares of Coupang stock remained flat at $21.65 on Monday. 1,483,023 shares of the stock traded hands, compared to its average volume of 8,200,863. The stock's 50-day moving average is $23.10 and its 200-day moving average is $23.68. 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 fifty-two week low of $18.16 and a fifty-two week high of $26.91. The company has a market cap of $39.09 billion, a P/E ratio of 37.98, a PEG ratio of 52.20 and a beta of 1.09.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CPNG. Barclays set a $35.00 price target on Coupang and gave the stock an "overweight" rating in a research note 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 target on the stock in a report on Wednesday, February 26th. Mizuho raised their price objective on shares of Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Finally, Citigroup cut their target price on shares of Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.