Geode Capital Management LLC Has $134.66 Million Holdings in Coupang, Inc. (NYSE:CPNG)

Geode Capital Management LLC lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,126,268 shares of the company's stock after buying an additional 241,025 shares during the period. Geode Capital Management LLC owned about 0.34% of Coupang worth $134,655,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Wingate Wealth Advisors Inc. bought a new position in shares of Coupang in the fourth quarter valued at $26,000. Berbice Capital Management LLC bought a new position in shares of Coupang in the 4th quarter valued at about $31,000. Allworth Financial LP increased its stake in shares of Coupang by 11,033.3% during the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company's stock worth $45,000 after purchasing an additional 1,986 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Coupang by 34.7% in the 4th 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 acquired a new stake in Coupang in the 4th quarter valued at about $80,000. Institutional investors own 83.72% of the company's stock.

Coupang Stock Performance

NYSE:CPNG traded up $0.68 during mid-day trading on Friday, reaching $21.68. 7,582,940 shares of the company's stock were exchanged, compared to its average volume of 8,397,863. 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 firm has a market capitalization of $39.13 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a one year low of $18.16 and a one year high of $26.91. The business's fifty day simple moving average is $23.10 and its two-hundred day simple moving average is $23.69.

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Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 250,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the company'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 sale, the vice president now directly owns 136,806 shares of the company's stock, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 13.60% of the company's stock.

Analyst Upgrades and Downgrades

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