Magnetar Financial LLC Acquires New Stake in Coupang, Inc. (NYSE:CPNG)

Magnetar Financial LLC bought a new position in Coupang, Inc. (NYSE:CPNG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 145,104 shares of the company’s stock, valued at approximately $3,189,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC boosted its stake in shares of Coupang by 32.0% in the 3rd 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. State Street Corp lifted its position in shares of Coupang by 1.9% in the third quarter. State Street Corp now owns 14,125,599 shares of the company’s stock valued at $346,783,000 after acquiring an additional 259,400 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Coupang by 43.2% in the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after acquiring an additional 2,603,046 shares in the last quarter. Coronation Fund Managers Ltd. increased its holdings in shares of Coupang by 53.3% in 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. Finally, Geode Capital Management LLC increased its holdings in shares of Coupang by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company’s stock worth $144,483,000 after purchasing an additional 29,164 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Down 0.9 %

Shares of NYSE CPNG opened at $23.34 on Friday. 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 firm has a market capitalization of $42.13 billion, a price-to-earnings ratio of 40.94, a PEG ratio of 52.20 and a beta of 1.10. The stock has a 50 day moving average price of $23.36 and a 200 day moving average price of $23.91. Coupang, Inc. has a 52-week low of $17.34 and a 52-week high of $26.91.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup reduced their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a research note on Wednesday, February 26th. Barclays set a $35.00 target price on Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Mizuho upped 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.17.

Insider Activity at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the company’s 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. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 259,234 shares of company stock worth $6,069,015. Company insiders own 13.60% of the company’s stock.

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.