Price T Rowe Associates Inc. MD Has $1.66 Billion Position in Coupang, Inc. (NYSE:CPNG)

Price T Rowe Associates Inc. MD raised its stake in Coupang, Inc. (NYSE:CPNG) by 29.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,686,648 shares of the company’s stock after buying an additional 17,123,637 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Coupang were worth $1,663,594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPNG. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coupang during the fourth quarter worth $26,000. Berbice Capital Management LLC acquired a new position in Coupang in the 4th quarter worth about $31,000. Allworth Financial LP raised its stake in shares of Coupang by 11,033.3% during the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after purchasing an additional 1,986 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company’s stock valued at $53,000 after buying an additional 1,429 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Coupang by 34.7% during the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock valued at $70,000 after buying an additional 822 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction 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 transaction, the vice president now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the stock in a transaction 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 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 trade represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CPNG shares. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research report on Wednesday, February 26th. Mizuho upgraded shares of Coupang to a “hold” rating in a report on Friday, April 18th. 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. Finally, Citigroup lowered their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Coupang Stock Up 2.6 %

Coupang stock opened at $21.67 on Wednesday. The firm has a market cap of $39.12 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 52.20 and a beta of 1.09. The firm has a fifty day moving average price of $22.74 and a two-hundred day moving average price of $23.54. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

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.