Magnetar Financial LLC Makes New Investment in Coupang, Inc. (NYSE:CPNG)

Magnetar Financial LLC purchased a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 145,104 shares of the company's stock, valued at approximately $3,189,000.

Several other institutional investors have also recently made changes to their positions in CPNG. Victory Capital Management Inc. increased its position in shares of Coupang by 0.9% in the third quarter. Victory Capital Management Inc. now owns 112,567 shares of the company's stock worth $2,764,000 after purchasing an additional 1,024 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Coupang by 10.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 11,265 shares of the company's stock worth $277,000 after buying an additional 1,082 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Coupang by 5.0% in the 3rd quarter. CIBC Asset Management Inc now owns 54,709 shares of the company's stock worth $1,343,000 after buying an additional 2,604 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Coupang by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 571,174 shares of the company's stock valued at $14,022,000 after buying an additional 15,210 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Coupang during the 3rd quarter valued at $370,000. Institutional investors own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CPNG shares. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price on the stock in a research note on Wednesday, February 26th. Barclays set a $35.00 price objective on Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Mizuho boosted their target price on Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Finally, Citigroup decreased their price target on shares of Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research note 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's stock. According to data from MarketBeat, Coupang currently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

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Coupang Trading Down 0.7 %

Shares of NYSE:CPNG traded down $0.17 during trading on Tuesday, reaching $23.42. 4,800,492 shares of the company traded hands, compared to its average volume of 8,314,093. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 52-week low of $17.34 and a 52-week high of $26.91. The firm has a market capitalization of $42.28 billion, a price-to-earnings ratio of 41.09, a P/E/G ratio of 52.20 and a beta of 1.10. The business's fifty day moving average is $23.44 and its 200-day moving average is $23.94.

Insider Buying and Selling at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction on 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 sale, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 259,234 shares of company stock valued at $6,069,015 in the last quarter. Company insiders own 13.60% of the company's stock.

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.