Federated Hermes Inc. Has $21.78 Million Stake in Coupang, Inc. (NYSE:CPNG)

Federated Hermes Inc. lifted its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 50.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 990,204 shares of the company's stock after purchasing an additional 333,283 shares during the quarter. Federated Hermes Inc. owned about 0.06% of Coupang worth $21,778,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Gavilan Investment Partners LLC boosted its stake in Coupang by 7.2% during the 4th quarter. Gavilan Investment Partners LLC now owns 1,115,000 shares of the company's stock valued at $24,508,000 after purchasing an additional 75,000 shares during the period. Russell Investments Group Ltd. increased its stake in Coupang by 42.7% during the 4th quarter. Russell Investments Group Ltd. now owns 3,006,001 shares of the company's stock valued at $66,099,000 after buying an additional 899,392 shares during the period. Wedbush Securities Inc. bought a new stake in shares of Coupang during the 4th quarter worth about $207,000. Envestnet Asset Management Inc. boosted its holdings in shares of Coupang by 0.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,127,750 shares of the company's stock valued at $46,768,000 after acquiring an additional 15,725 shares in the last quarter. Finally, Motley Fool Asset Management LLC boosted its holdings in shares of Coupang by 13.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 81,793 shares of the company's stock valued at $1,798,000 after acquiring an additional 9,603 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

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Coupang Trading Up 1.1 %

Shares of Coupang stock traded up $0.23 during trading on Monday, hitting $21.88. The stock had a trading volume of 897,302 shares, compared to its average volume of 8,356,413. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $39.50 billion, a PE ratio of 38.39, a P/E/G ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $26.91. The stock has a 50 day simple moving average of $23.10 and a 200 day simple moving average of $23.68.

Insiders Place Their Bets

In other Coupang news, 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 value of $5,857,500.00. Following the completion of the sale, the director now owns 1,719,421 shares in the company, valued at $40,286,034.03. This represents a 12.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of Coupang 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 sale, the vice president now directly owns 136,806 shares of the company's stock, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CPNG shares. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price for the company in a research report on Wednesday, February 26th. Citigroup decreased their target price on Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Barclays set a $35.00 price target on shares of Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, Mizuho raised their price objective 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.17.

Coupang 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.