Alliancebernstein L.P. Buys 425,184 Shares of Coupang, Inc. (NYSE:CPNG)

Alliancebernstein L.P. increased its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 116.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 791,556 shares of the company's stock after purchasing an additional 425,184 shares during the quarter. Alliancebernstein L.P.'s holdings in Coupang were worth $17,398,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Coupang in the fourth quarter valued at $404,896,000. State Street Corp increased its stake in Coupang by 1.9% in the third quarter. State Street Corp now owns 14,125,599 shares of the company's stock valued at $346,783,000 after purchasing an additional 259,400 shares during the last quarter. Coronation Fund Managers Ltd. lifted its position 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 period. Geode Capital Management LLC grew its holdings in Coupang by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company's stock valued at $144,483,000 after buying an additional 29,164 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Coupang by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,366,214 shares of the company's stock valued at $117,949,000 after acquiring an additional 54,364 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Insider Transactions at Coupang

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction 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 directly owns 1,719,421 shares of the company's stock, valued at $40,286,034.03. This represents a 12.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Pranam Kolari sold 8,459 shares of the business's stock in a transaction dated 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 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 insiders.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CPNG shares. Mizuho boosted their price target on Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Barclays set a $35.00 target price on shares of Coupang and gave the company an "overweight" rating in a research note on Thursday, February 27th. 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 report on Wednesday, February 26th. Finally, Citigroup lowered 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Coupang currently has an average rating of "Moderate Buy" and an average price target of $29.17.

Coupang Trading Up 1.0 %

Shares of CPNG traded up $0.21 during midday trading on Monday, hitting $21.86. The stock had a trading volume of 586,673 shares, compared to its average volume of 8,197,366. The business has a 50-day simple moving average of $23.10 and a two-hundred day simple moving average of $23.68. The firm has a market cap of $39.47 billion, a P/E ratio of 38.36, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $26.91.

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.