Envestnet Asset Management Inc. Grows Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Envestnet Asset Management Inc. grew its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,127,750 shares of the company's stock after buying an additional 15,725 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of Coupang worth $46,768,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CPNG. Norges Bank acquired a new position in Coupang during the 4th quarter worth approximately $404,896,000. Coronation Fund Managers Ltd. raised its holdings in 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 buying an additional 2,566,581 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Coupang by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 6,126,268 shares of the company's stock valued at $134,655,000 after buying an additional 241,025 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Coupang by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,366,214 shares of the company's stock valued at $117,949,000 after buying an additional 54,364 shares during the last quarter. Finally, Ninety One UK Ltd bought a new stake in shares of Coupang during the fourth quarter worth about $46,388,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Insiders Place Their Bets

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the firm'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 completion of the sale, the director now directly owns 1,719,421 shares of the company's stock, valued at $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Pranam Kolari sold 8,459 shares of the business's stock in a transaction on Monday, February 3rd. The shares were 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 owns 136,806 shares in the company, 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 own 13.60% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CPNG shares. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target for the company in a research note on Wednesday, February 26th. Mizuho upped their price target on Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Citigroup lowered their price target on Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Finally, Barclays set a $35.00 target price on shares of Coupang and gave the stock an "overweight" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

Coupang Stock Performance

Shares of NYSE CPNG traded up $0.23 during mid-day trading on Wednesday, reaching $21.71. 733,259 shares of the company's stock were exchanged, compared to its average volume of 8,099,784. The firm has a market capitalization of $39.20 billion, a price-to-earnings ratio of 38.10, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. The firm has a 50-day moving average price of $23.01 and a two-hundred day moving average price of $23.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $26.91.

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.