Coupang, Inc. (NYSE:CPNG) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 29.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,686,648 shares of the company's stock after purchasing an additional 17,123,637 shares during the quarter. Price T Rowe Associates Inc. MD owned about 4.21% of Coupang worth $1,663,594,000 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. Assenagon Asset Management S.A. increased its position in Coupang by 85.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock worth $24,182,000 after buying an additional 506,622 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Coupang by 23.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company's stock worth $4,861,000 after acquiring an additional 41,384 shares during the period. Elevate Capital Advisors LLC acquired a new position in Coupang during the 4th quarter valued at about $2,618,000. New York Life Investment Management LLC acquired a new position in Coupang during the 4th quarter valued at about $349,000. Finally, Ninety One UK Ltd bought a new position in Coupang in the 4th quarter worth about $46,388,000. Institutional investors own 83.72% of the company's stock.

Insider Buying and Selling

In other news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Benjamin Sun sold 250,000 shares of the company'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 of the company's stock, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 13.60% of the company's stock.

Coupang Trading Up 2.6 %

Coupang stock opened at $21.67 on Wednesday. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $26.91. The firm's 50 day moving average price is $22.74 and its two-hundred day moving average price is $23.54. The firm has a market cap of $39.12 billion, a price-to-earnings ratio of 38.02, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Mizuho raised Coupang to a "hold" rating in a report on Friday, April 18th. Barclays set a $35.00 price target on Coupang and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised 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. Finally, Citigroup reduced their price objective 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. One 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

Coupang Company 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.

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