Legal & General Group Plc trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,352,018 shares of the company's stock after selling 238,343 shares during the period. Legal & General Group Plc owned approximately 0.19% of Coupang worth $73,677,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its holdings in Coupang by 85.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock valued at $24,182,000 after purchasing an additional 506,622 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Coupang by 23.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company's stock worth $4,861,000 after acquiring an additional 41,384 shares during the last quarter. Elevate Capital Advisors LLC acquired a new stake in shares of Coupang in the fourth quarter valued at $2,618,000. New York Life Investment Management LLC acquired a new stake in shares of Coupang during the fourth quarter worth about $349,000. Finally, Ninety One UK Ltd acquired a new position in shares of Coupang in the fourth quarter worth $46,388,000. 83.72% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Benjamin Sun sold 250,000 shares of the company's stock in a transaction dated 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 sale, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 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 disclosure for this sale can be found here. 13.60% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded 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. Barclays set a $35.00 target price on shares of Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Mizuho raised their price objective on shares of Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Finally, Citigroup lowered their price target 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.17.
View Our Latest Research Report on Coupang
Coupang Price Performance
NYSE:CPNG traded down $0.06 during midday trading on Tuesday, hitting $21.48. 6,585,731 shares of the stock were exchanged, compared to its average volume of 8,211,556. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $38.77 billion, a price-to-earnings ratio of 37.68, a P/E/G ratio of 52.20 and a beta of 1.09. The business has a 50-day moving average price of $23.05 and a two-hundred day moving average price of $23.66. Coupang, Inc. has a one year low of $18.16 and a one year high of $26.91.
About Coupang
(
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.
Further Reading
Before you consider Coupang, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Coupang wasn't on the list.
While Coupang currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
