Massachusetts Financial Services Co. MA Makes New Investment in Coupang, Inc. (NYSE:CPNG)

Massachusetts Financial Services Co. MA bought a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,618,750 shares of the company's stock, valued at approximately $35,580,000. Massachusetts Financial Services Co. MA owned approximately 0.09% of Coupang as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of Coupang by 4.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company's stock valued at $253,000 after purchasing an additional 452 shares during the last quarter. Angeles Wealth Management LLC lifted its stake in shares of Coupang by 0.8% during the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company's stock valued at $1,211,000 after buying an additional 459 shares in the last quarter. IFP Advisors Inc grew its position in shares of Coupang by 3.8% during the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company's stock worth $280,000 after purchasing an additional 469 shares in the last quarter. Ignite Planners LLC raised its position in shares of Coupang by 2.5% during the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company's stock valued at $452,000 after buying an additional 483 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Coupang by 8.6% in the 4th quarter. National Bank of Canada FI now owns 6,944 shares of the company's stock worth $153,000 after purchasing an additional 548 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several 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 price target on the stock in a report on Wednesday, February 26th. Mizuho lifted their price objective on Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Citigroup cut their price target on Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Finally, Barclays set a $35.00 price objective on shares of Coupang and gave the company an "overweight" rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $29.17.

Coupang Price Performance

Shares of CPNG traded down $1.25 during mid-day trading on Thursday, hitting $20.59. The company's stock had a trading volume of 2,438,637 shares, compared to its average volume of 8,412,177. The firm has a 50-day simple moving average of $23.19 and a 200 day simple moving average of $23.74. 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 firm has a market capitalization of $37.17 billion, a P/E ratio of 36.23, a P/E/G ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $26.91.

Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the completion of the transaction, the vice president now directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction on 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 transaction, the director now directly owns 1,719,421 shares of the company's stock, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by 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.