LGT Fund Management Co Ltd. Takes $2.60 Million Position in Coupang, Inc. (NYSE:CPNG)

LGT Fund Management Co Ltd. bought a new position in Coupang, Inc. (NYSE:CPNG - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 118,233 shares of the company's stock, valued at approximately $2,599,000.

Several other institutional investors have also modified their holdings of CPNG. Assenagon Asset Management S.A. grew its holdings in shares of Coupang by 85.4% in 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 during the period. Allspring Global Investments Holdings LLC grew its stake 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 valued at $4,861,000 after buying an additional 41,384 shares during the period. Elevate Capital Advisors LLC acquired a new stake in shares of Coupang during the 4th quarter worth approximately $2,618,000. Charles Schwab Investment Management Inc. raised its position in shares of Coupang by 22.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company's stock valued at $18,640,000 after buying an additional 138,416 shares during the period. Finally, abrdn plc lifted its holdings in Coupang by 40.2% in the third quarter. abrdn plc now owns 202,359 shares of the company's stock valued at $4,968,000 after acquiring an additional 58,060 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Coupang Stock Down 3.4 %

Shares of NYSE:CPNG traded down $0.81 during trading on Thursday, hitting $23.17. The company's stock had a trading volume of 5,146,954 shares, compared to its average volume of 8,845,287. Coupang, Inc. has a fifty-two week low of $17.34 and a fifty-two week high of $26.91. The business has a 50 day moving average price of $23.27 and a two-hundred day moving average price of $23.91. 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 company has a market capitalization of $41.69 billion, a PE ratio of 40.66, a P/E/G ratio of 52.20 and a beta of 1.10.

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Analyst Ratings Changes

Several brokerages have recently commented on CPNG. Mizuho increased their price target on Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Barclays set a $35.00 target price on shares of Coupang and gave the stock an "overweight" rating in a research note 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, 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. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Coupang presently has an average rating of "Moderate Buy" and an average target price of $29.17.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction of $194,387.82. Following the completion of the transaction, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.60% of the stock is owned by company insiders.

Coupang 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.