Coupang, Inc. (NYSE:CPNG) Shares Acquired by Twenty Acre Capital LP

Twenty Acre Capital LP raised its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 407,614 shares of the company's stock after purchasing an additional 52,200 shares during the quarter. Coupang accounts for 7.3% of Twenty Acre Capital LP's investment portfolio, making the stock its 4th biggest holding. Twenty Acre Capital LP's holdings in Coupang were worth $8,959,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in shares of Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock valued at $24,182,000 after buying an additional 506,622 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Coupang by 23.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company's stock valued at $4,861,000 after purchasing an additional 41,384 shares in the last quarter. Elevate Capital Advisors LLC purchased a new stake in shares of Coupang during the 4th quarter worth about $2,618,000. New York Life Investment Management LLC acquired a new stake in shares of Coupang during the 4th quarter valued at about $349,000. Finally, Ninety One UK Ltd bought a new stake in shares of Coupang in the 4th quarter valued at approximately $46,388,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price for the company in a research note on Wednesday, February 26th. Mizuho upgraded Coupang to a "hold" rating in a report on Friday. Barclays set a $35.00 price objective on Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, Citigroup lowered 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Coupang has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.

Coupang Trading Up 3.6 %

NYSE:CPNG traded up $0.76 during trading hours on Tuesday, hitting $21.89. The stock had a trading volume of 1,102,817 shares, compared to its average volume of 7,897,355. The business's 50 day moving average is $22.81 and its 200-day moving average is $23.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The company has a market cap of $39.51 billion, a price-to-earnings ratio of 38.36, a P/E/G ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a one year low of $18.16 and a one year high of $26.91.

Insider Activity

In related news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction that occurred 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 in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.

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.