Blueshift Asset Management LLC Buys Shares of 15,375 Coupang, Inc. (NYSE:CPNG)

Blueshift Asset Management LLC purchased a new position in Coupang, Inc. (NYSE:CPNG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,375 shares of the company’s stock, valued at approximately $338,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC grew its stake in Coupang by 32.0% during 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. Wellington Management Group LLP grew its position 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 acquiring an additional 2,603,046 shares during the last quarter. Coronation Fund Managers Ltd. increased its holdings in shares of Coupang by 53.3% in the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after acquiring an additional 2,566,581 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Coupang by 762.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock valued at $68,710,000 after purchasing an additional 2,474,175 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new position in Coupang during the 4th quarter valued at about $46,388,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Up 0.2 %

CPNG opened at $23.36 on Friday. The stock’s fifty day moving average is $23.40 and its 200-day moving average is $23.92. Coupang, Inc. has a one year low of $17.34 and a one year high of $26.91. The company has a market capitalization of $42.17 billion, a PE ratio of 40.97, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Analysts Set New Price Targets

Several brokerages have commented on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a report on Wednesday, February 26th. Mizuho boosted their price target on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Citigroup decreased their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays set a $35.00 price objective on shares of Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 8,459 shares of the firm’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 directly owns 136,806 shares of the company’s stock, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin Sun sold 250,000 shares of the business’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 directly owns 1,719,421 shares in the company, valued at $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 259,234 shares of company stock worth $6,069,015. 13.60% of the stock is owned by corporate 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.