First Trust Advisors LP Purchases 600,353 Shares of Coupang, Inc. (NYSE:CPNG)

First Trust Advisors LP boosted its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 51.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,759,451 shares of the company's stock after acquiring an additional 600,353 shares during the period. First Trust Advisors LP owned 0.10% of Coupang worth $38,673,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company's stock worth $651,038,000 after purchasing an additional 2,465,973 shares during the period. Dodge & Cox raised its position in shares of Coupang by 0.6% in the 4th quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock valued at $444,640,000 after buying an additional 123,900 shares in the last quarter. Norges Bank bought a new stake in shares of Coupang during the 4th quarter worth approximately $404,896,000. Coronation Fund Managers Ltd. boosted its position in shares of 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 acquiring an additional 2,566,581 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake 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 acquiring an additional 241,025 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on CPNG. Barclays set a $35.00 target price on Coupang and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price for the company in a research note on Wednesday, February 26th. Mizuho upgraded shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Finally, Citigroup lowered their price objective 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $29.17.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the firm'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 transaction 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. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Benjamin Sun sold 250,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is owned by corporate insiders.

Coupang Trading Down 0.1 %

NYSE CPNG traded down $0.02 on Monday, reaching $23.42. The company had a trading volume of 4,456,227 shares, compared to its average volume of 7,807,579. The firm has a market cap of $42.28 billion, a price-to-earnings ratio of 41.09, 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 business has a 50 day moving average of $22.61 and a two-hundred day moving average of $23.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

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.