BankPlus Trust Department Takes $225,000 Position in Coupang, Inc. (NYSE:CPNG)

BankPlus Trust Department purchased a new stake in Coupang, Inc. (NYSE:CPNG) during the 4th quarter, HoldingsChannel reports. The fund purchased 10,238 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock worth $24,182,000 after acquiring an additional 506,622 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Coupang by 23.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock worth $4,861,000 after acquiring an additional 41,384 shares during the period. Elevate Capital Advisors LLC bought a new position in shares of Coupang in the 4th quarter worth $2,618,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Coupang by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after buying an additional 138,416 shares during the last quarter. Finally, abrdn plc increased its holdings in shares of Coupang by 40.2% in the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after buying an additional 58,060 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 0.9 %

NYSE:CPNG opened at $24.61 on Tuesday. The company has a 50-day moving average price of $23.12 and a 200-day moving average price of $23.85. Coupang, Inc. has a 12 month low of $15.81 and a 12 month high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a market cap of $44.26 billion, a price-to-earnings ratio of 43.17, a P/E/G ratio of 52.20 and a beta of 1.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Barclays upped their price objective on shares of Coupang from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.78.

Insider Transactions at Coupang

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

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.