Fmr LLC Buys 2,465,973 Shares of Coupang, Inc. (NYSE:CPNG)

FMR LLC boosted its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,619,581 shares of the company's stock after purchasing an additional 2,465,973 shares during the period. FMR LLC owned about 1.65% of Coupang worth $651,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Coupang during the 4th quarter valued at $26,000. Berbice Capital Management LLC purchased a new stake in Coupang during the fourth quarter valued at about $31,000. Allworth Financial LP increased its stake in shares of Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company's stock worth $45,000 after purchasing an additional 1,986 shares in the last quarter. Signaturefd LLC increased its stake in shares of Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock worth $70,000 after purchasing an additional 822 shares in the last quarter. Finally, Atala Financial Inc bought a new stake in shares of Coupang in the fourth quarter valued at approximately $80,000. 83.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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Insider Activity

In other news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the transaction, the director now directly owns 1,719,421 shares in the company, valued at approximately $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 can be accessed through this link. Also, VP Pranam Kolari sold 8,459 shares of the business's stock in a transaction that occurred 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 owns 136,806 shares of the company's stock, valued at $3,143,801.88. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company's stock.

Coupang Price Performance

CPNG traded up $0.23 on Monday, reaching $21.88. The company had a trading volume of 897,302 shares, compared to its average volume of 8,356,413. Coupang, Inc. has a 52-week low of $18.16 and a 52-week high of $26.91. The company has a market cap of $39.50 billion, a price-to-earnings ratio of 38.39, a P/E/G 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. The business has a 50 day simple moving average of $23.10 and a 200 day simple moving average of $23.68.

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.