Victory Capital Management Inc. Has $1.97 Million Position in Coupang, Inc. (NYSE:CPNG)

Victory Capital Management Inc. reduced its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,787 shares of the company's stock after selling 22,780 shares during the quarter. Victory Capital Management Inc.'s holdings in Coupang were worth $1,974,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in shares of Coupang by 85.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock worth $24,182,000 after acquiring an additional 506,622 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Coupang by 23.4% during the 4th 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 during the period. Elevate Capital Advisors LLC bought a new position in Coupang in the 4th quarter worth about $2,618,000. Charles Schwab Investment Management Inc. increased its stake in shares of Coupang by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company's stock valued at $18,640,000 after purchasing an additional 138,416 shares during the period. Finally, Plotkin Financial Advisors LLC bought a new stake in shares of Coupang during the third quarter valued at approximately $491,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPNG has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a report on Wednesday, February 26th. 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. 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. Finally, Mizuho boosted their target price on Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.17.

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Coupang Price Performance

Coupang stock traded up $0.05 during mid-day trading on Friday, hitting $23.36. The company's stock had a trading volume of 3,055,739 shares, compared to its average volume of 8,348,701. The stock has a market capitalization of $42.17 billion, a P/E ratio of 40.97, a P/E/G ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a twelve month low of $17.34 and a twelve month high of $26.91. The stock's fifty day moving average price is $23.36 and its two-hundred day moving average price is $23.91. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 250,000 shares of the business's 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 sale, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owns 136,806 shares of the company's stock, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,234 shares of company stock valued at $6,069,015 in the last three months. 13.60% of the stock is currently owned by corporate insiders.

About Coupang

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.