PNC Financial Services Group Inc. Boosts Stake in Coupang, Inc. (NYSE:CPNG)

PNC Financial Services Group Inc. grew its stake in Coupang, Inc. (NYSE:CPNG) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 250,354 shares of the company’s stock after buying an additional 10,119 shares during the period. PNC Financial Services Group Inc.’s holdings in Coupang were worth $5,503,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPNG. FMR LLC raised its holdings in shares of Coupang by 32.0% in the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after buying an additional 6,584,910 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Coupang by 43.2% during the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock worth $211,868,000 after purchasing an additional 2,603,046 shares during the last quarter. Coronation Fund Managers Ltd. raised its holdings in shares of Coupang by 53.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after purchasing an additional 2,566,581 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Coupang by 762.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock worth $68,710,000 after purchasing an additional 2,474,175 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new position in shares of Coupang during the fourth quarter worth $46,388,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the sale, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on CPNG shares. Mizuho raised their target price on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Barclays set a $35.00 target price on shares of Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Citigroup reduced their target price 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, Deutsche Bank Aktiengesellschaft raised shares of 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. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Coupang Stock Performance

NYSE:CPNG opened at $22.33 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The firm has a market capitalization of $40.31 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 52.20 and a beta of 1.10. The company’s 50-day moving average is $23.28 and its two-hundred day moving average is $23.89. 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.