Russell Investments Group Ltd. Boosts Stake in Coupang, Inc. (NYSE:CPNG)

Russell Investments Group Ltd. raised its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 42.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,006,001 shares of the company's stock after purchasing an additional 899,392 shares during the quarter. Russell Investments Group Ltd. owned 0.17% of Coupang worth $66,099,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPNG. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coupang in the fourth quarter worth approximately $26,000. Berbice Capital Management LLC purchased a new stake in Coupang in the fourth quarter worth $31,000. Allworth Financial LP lifted its position in shares of Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company's stock worth $45,000 after purchasing an additional 1,986 shares during the last quarter. Signaturefd LLC lifted its position in shares of Coupang by 34.7% during the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock worth $70,000 after purchasing an additional 822 shares during the last quarter. Finally, Atala Financial Inc purchased a new stake in shares of Coupang during the fourth quarter valued at $80,000. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insiders Place Their Bets

In other Coupang news, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Pranam Kolari sold 8,459 shares of the stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Corporate insiders own 13.60% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CPNG shares. Citigroup decreased their price objective on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Barclays set a $35.00 price target on Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective on the stock in a report on Wednesday, February 26th. Finally, Mizuho lifted their target price on Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Coupang has an average rating of "Moderate Buy" and an average price target of $29.17.

Coupang Stock Up 3.2 %

Shares of CPNG stock traded up $0.68 during trading hours on Friday, reaching $21.68. 7,582,940 shares of the company's stock were exchanged, compared to its average volume of 8,397,863. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $26.91. The stock's 50 day moving average is $23.10 and its 200-day moving average is $23.69. 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 market cap of $39.13 billion, a price-to-earnings ratio of 38.03, a P/E/G ratio of 52.20 and a beta of 1.09.

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.