Coupang, Inc. (NYSE:CPNG) Shares Bought by Pinebridge Investments L.P.

Pinebridge Investments L.P. grew its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 53.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,187 shares of the company's stock after purchasing an additional 31,423 shares during the period. Pinebridge Investments L.P.'s holdings in Coupang were worth $1,982,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Pacer Advisors Inc. boosted its stake in Coupang by 4.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company's stock worth $253,000 after buying an additional 452 shares during the period. Angeles Wealth Management LLC increased its holdings in Coupang by 0.8% in 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 last quarter. IFP Advisors Inc raised its position in Coupang by 3.8% in the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company's stock valued at $280,000 after purchasing an additional 469 shares during the period. Ignite Planners LLC lifted its stake in Coupang by 2.5% during the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company's stock worth $452,000 after purchasing an additional 483 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Coupang by 8.6% during the fourth quarter. National Bank of Canada FI now owns 6,944 shares of the company's stock worth $153,000 after buying an additional 548 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays set a $35.00 target price on Coupang and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Citigroup reduced their price target on shares of Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Mizuho upgraded shares of Coupang to a "hold" rating in a report on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Coupang presently has a consensus rating of "Moderate Buy" and an average price target of $29.17.

Coupang Price Performance

Coupang stock opened at $23.44 on Monday. 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 fifty day simple moving average of $22.61 and a 200-day simple moving average of $23.47. The stock has a market cap of $42.32 billion, a P/E ratio of 41.12, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a 12-month low of $18.16 and a 12-month high of $26.91.

Insiders Place Their Bets

In other news, Director Benjamin Sun sold 250,000 shares of the business's stock in a transaction that occurred 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 owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Pranam Kolari sold 8,459 shares of Coupang 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.

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.

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