Mitsubishi UFJ Trust & Banking Corp Reduces Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Mitsubishi UFJ Trust & Banking Corp reduced its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,997,431 shares of the company's stock after selling 68,512 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.11% of Coupang worth $43,904,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CPNG. Wingate Wealth Advisors Inc. bought a new stake in shares of Coupang in the fourth quarter worth approximately $26,000. Brooklyn Investment Group purchased a new stake in Coupang in the third quarter worth approximately $28,000. Berbice Capital Management LLC bought a new stake in Coupang in the 4th quarter worth approximately $31,000. Allworth Financial LP raised its stake in Coupang by 11,033.3% during the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after buying an additional 1,986 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Coupang by 34.7% during the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after buying an additional 822 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CPNG. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target for the company in a research note on Wednesday, February 26th. 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 report on Wednesday, January 8th. Barclays set a $35.00 target price on Coupang and gave the stock an "overweight" rating in a report on Thursday, February 27th. Finally, Mizuho boosted their price target on Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. One 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.17.

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Coupang Price Performance

Shares of NYSE:CPNG traded down $1.21 during trading on Friday, hitting $22.32. 7,408,783 shares of the company's stock were exchanged, compared to its average volume of 8,448,424. The business's 50-day simple moving average is $23.52 and its 200 day simple moving average is $23.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 52-week low of $17.67 and a 52-week high of $26.91. The company has a market cap of $40.29 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 52.20 and a beta of 1.10.

Insider Activity

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm'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 completion of the transaction, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 259,234 shares of company stock worth $6,069,015 over the last quarter. Insiders own 13.60% of the company's stock.

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.