Neuberger Berman Group LLC lowered its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 93.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,287 shares of the company's stock after selling 471,915 shares during the period. Neuberger Berman Group LLC's holdings in Coupang were worth $776,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its position in Coupang by 9.1% during the 4th quarter. FMR LLC now owns 29,619,581 shares of the company's stock worth $651,038,000 after acquiring an additional 2,465,973 shares during the last quarter. Norges Bank bought a new position in Coupang in the 4th quarter valued at approximately $404,896,000. Coronation Fund Managers Ltd. boosted its position in Coupang by 53.3% during the 4th 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 4.1% during the 4th quarter. Geode Capital Management LLC now owns 6,126,268 shares of the company's stock worth $134,655,000 after acquiring an additional 241,025 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Coupang by 1.0% in 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 period. Institutional investors own 83.72% of the company's stock.
Coupang Price Performance
Shares of CPNG traded down $0.24 during mid-day trading on Wednesday, reaching $21.24. 3,488,171 shares of the stock traded hands, compared to its average volume of 8,335,505. The company has a market cap of $38.35 billion, a price-to-earnings ratio of 37.26, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $26.91. The firm has a fifty day moving average price of $23.01 and a 200 day moving average price of $23.64. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective on the stock in a research note on Wednesday, February 26th. Citigroup cut their price objective on Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Barclays set a $35.00 price target on shares of Coupang and gave the stock an "overweight" rating in a report on Thursday, February 27th. Finally, Mizuho increased their price objective on shares of Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a research 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.
Get Our Latest Stock Analysis on CPNG
Insider Buying and Selling
In related news, VP Pranam Kolari sold 8,459 shares of the company'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 transaction, the vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin Sun sold 250,000 shares of the firm's stock in a transaction dated 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 sale, the director now owns 1,719,421 shares in the company, valued at $40,286,034.03. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.
Coupang Profile
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Free Report)
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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