Platinum Investment Management Ltd. Takes Position in Coupang, Inc. (NYSE:CPNG)

Platinum Investment Management Ltd. purchased a new position in Coupang, Inc. (NYSE:CPNG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,111 shares of the company's stock, valued at approximately $794,000.

A number of other hedge funds also recently modified their holdings of the business. Xponance Inc. raised its holdings in shares of Coupang by 7.8% during the fourth quarter. Xponance Inc. now owns 158,459 shares of the company's stock worth $3,483,000 after acquiring an additional 11,439 shares during the period. Signaturefd LLC raised its stake in shares of Coupang by 34.7% in the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after purchasing an additional 822 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Coupang by 20.6% in the fourth quarter. Corient Private Wealth LLC now owns 33,655 shares of the company's stock valued at $740,000 after purchasing an additional 5,746 shares in the last quarter. Long Walk Management LP boosted its position in shares of Coupang by 36.5% during the fourth quarter. Long Walk Management LP now owns 1,296,500 shares of the company's stock worth $28,497,000 after buying an additional 346,500 shares during the period. Finally, Atala Financial Inc bought a new position in shares of Coupang during the fourth quarter worth about $80,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction 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 directly owns 136,806 shares of the company's stock, valued at $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 1,719,421 shares in the company, valued at $40,286,034.03. The trade was a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,234 shares of company stock valued at $6,069,015 over the last 90 days. 13.60% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Mizuho boosted their target price on Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Citigroup cut their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price for the company in a research report on Wednesday, February 26th. Finally, Barclays set a $35.00 price target on shares of Coupang and gave the stock an "overweight" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $29.17.

Coupang Stock Performance

Shares of Coupang stock traded up $0.05 during trading on Friday, hitting $23.36. 5,691,917 shares of the stock were exchanged, compared to its average volume of 8,327,455. 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 fifty day moving average price of $23.40 and a 200-day moving average price of $23.93. The stock has a market capitalization of $42.17 billion, a price-to-earnings ratio of 40.97, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a 1-year low of $17.34 and a 1-year high of $26.91.

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.