Invesco Ltd. Purchases 62,912 Shares of Coupang, Inc. (NYSE:CPNG)

Invesco Ltd. raised its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,261,187 shares of the company's stock after purchasing an additional 62,912 shares during the quarter. Invesco Ltd. owned about 0.07% of Coupang worth $27,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CPNG. FMR LLC grew its stake in Coupang by 9.1% during the 4th quarter. FMR LLC now owns 29,619,581 shares of the company's stock valued at $651,038,000 after purchasing an additional 2,465,973 shares in the last quarter. Norges Bank acquired a new position in Coupang during the 4th quarter worth $404,896,000. Coronation Fund Managers Ltd. raised its stake in shares of Coupang by 53.3% in the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company's stock valued at $162,292,000 after purchasing an additional 2,566,581 shares in the last quarter. Geode Capital Management LLC increased its holdings in Coupang by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 6,126,268 shares of the company's stock valued at $134,655,000 after buying an additional 241,025 shares during the last quarter. Finally, Vanguard Group Inc. raised its position 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 in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Activity

In other news, Director Benjamin Sun sold 250,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 1,719,421 shares in the company, valued at $40,286,034.03. The trade was a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Pranam Kolari sold 8,459 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction 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 represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.

Coupang Stock Up 2.6 %

Shares of CPNG stock traded up $0.59 on Thursday, hitting $23.16. The company's stock had a trading volume of 2,963,521 shares, compared to its average volume of 7,833,669. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The stock has a market capitalization of $41.82 billion, a price-to-earnings ratio of 40.58, a P/E/G ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $26.91. The firm's fifty day moving average price is $22.69 and its 200-day moving average price is $23.53.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CPNG. Mizuho raised Coupang to a "hold" rating in a report on Friday, April 18th. Barclays set a $35.00 price target on shares of Coupang and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Citigroup reduced their price target on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Coupang currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.

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.