Allspring Global Investments Holdings LLC Acquires 41,384 Shares of Coupang, Inc. (NYSE:CPNG)

Allspring Global Investments Holdings LLC boosted its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 23.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 218,100 shares of the company's stock after buying an additional 41,384 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Coupang were worth $4,861,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of Coupang by 4.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company's stock valued at $253,000 after purchasing an additional 452 shares during the period. Angeles Wealth Management LLC grew its stake in shares of Coupang by 0.8% during the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company's stock valued at $1,211,000 after purchasing an additional 459 shares during the period. Ignite Planners LLC grew its stake in shares of Coupang by 2.5% during the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company's stock valued at $452,000 after purchasing an additional 483 shares during the period. Van ECK Associates Corp grew its stake in shares of Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company's stock valued at $32,000 after purchasing an additional 484 shares during the period. Finally, Covestor Ltd grew its stake in shares of Coupang by 10.4% during the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company's stock valued at $159,000 after purchasing an additional 612 shares during the period. Hedge funds and other institutional investors own 83.72% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on CPNG. Citigroup reduced their target price on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Barclays increased their target price on shares of Coupang from $32.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $27.78.

Insider Activity at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the firm'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 $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.60% of the stock is currently owned by insiders.

Coupang Price Performance

Shares of CPNG stock traded down $0.34 on Friday, reaching $24.80. The company's stock had a trading volume of 7,699,497 shares, compared to its average volume of 8,081,795. The stock's fifty day simple moving average is $23.10 and its 200-day simple moving average is $23.79. Coupang, Inc. has a 1 year low of $15.81 and a 1 year high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $44.60 billion, a price-to-earnings ratio of 43.50, a price-to-earnings-growth ratio of 52.20 and a beta of 1.11.

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.