Capital World Investors Sells 1,123,903 Shares of Coupang, Inc. (NYSE:CPNG)

Capital World Investors trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 10.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,148,802 shares of the company's stock after selling 1,123,903 shares during the period. Capital World Investors owned 0.56% of Coupang worth $223,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in Coupang during the fourth quarter worth about $26,000. Berbice Capital Management LLC purchased a new position in Coupang in the 4th quarter valued at about $31,000. Allworth Financial LP boosted its position in Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company's stock worth $45,000 after acquiring an additional 1,986 shares during the last quarter. Signaturefd LLC grew its position in shares of Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after purchasing an additional 822 shares during the period. Finally, Atala Financial Inc purchased a new position in shares of Coupang during the 4th quarter worth about $80,000. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Activity at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was 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 trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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. This trade represents 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 Stock Up 0.9 %

CPNG stock traded up $0.20 during trading hours on Friday, hitting $23.44. The company's stock had a trading volume of 3,882,767 shares, compared to its average volume of 7,840,529. The company has a market capitalization of $42.32 billion, a PE ratio of 41.12, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. The stock has a 50 day moving average price of $22.65 and a two-hundred day moving average price of $23.51. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $26.91.

Analyst Ratings Changes

Several equities research analysts have recently issued reports 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 for the company in a research report on Wednesday, February 26th. Citigroup reduced their target price on shares of Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Mizuho upgraded shares of Coupang to a "hold" rating in a report on Friday, April 18th. Finally, Barclays set a $35.00 target price on Coupang and gave the company an "overweight" rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.