PDT Partners LLC Purchases 71,449 Shares of Coupang, Inc. (NYSE:CPNG)

PDT Partners LLC increased its stake in shares of Coupang, Inc. (NYSE:CPNG) by 107.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 137,949 shares of the company’s stock after acquiring an additional 71,449 shares during the quarter. PDT Partners LLC’s holdings in Coupang were worth $3,032,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPNG. Price T Rowe Associates Inc. MD raised its stake in shares of Coupang by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock valued at $1,663,594,000 after buying an additional 17,123,637 shares during the period. FMR LLC increased its holdings in shares of Coupang by 9.1% in the 4th quarter. FMR LLC now owns 29,619,581 shares of the company’s stock worth $651,038,000 after buying an additional 2,465,973 shares during the last quarter. Dodge & Cox lifted its stake in Coupang by 0.6% during the fourth quarter. Dodge & Cox now owns 20,229,320 shares of the company’s stock worth $444,640,000 after purchasing an additional 123,900 shares during the last quarter. Norges Bank purchased a new stake in Coupang in the fourth quarter worth approximately $404,896,000. Finally, HMI Capital Management L.P. raised its position in Coupang by 4.2% in the 4th quarter. HMI Capital Management L.P. now owns 11,662,498 shares of the company’s stock worth $256,342,000 after purchasing an additional 470,000 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays set a $35.00 price target on shares of Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a research note on Wednesday, February 26th. Mizuho raised shares of Coupang to a “hold” rating in a report on Friday, April 18th. Finally, Citigroup lowered their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Insider Activity at Coupang

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now 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 sale 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 dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value 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 approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.

Coupang Stock Down 0.1 %

Shares of NYSE:CPNG opened at $23.42 on Tuesday. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $26.91. The business has a 50 day simple moving average of $22.57 and a two-hundred day simple moving average of $23.45. The firm has a market capitalization of $42.28 billion, a PE ratio of 41.09, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

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.