Blueshift Asset Management LLC Invests $338,000 in Coupang, Inc. (NYSE:CPNG)

Blueshift Asset Management LLC bought a new stake in Coupang, Inc. (NYSE:CPNG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,375 shares of the company’s stock, valued at approximately $338,000.

Several other large investors have also recently added to or reduced their stakes in CPNG. Wingate Wealth Advisors Inc. acquired a new position in shares of Coupang in the 4th quarter valued at $26,000. Brooklyn Investment Group acquired a new position in Coupang in the third quarter valued at $28,000. Berbice Capital Management LLC acquired a new stake in Coupang during the fourth quarter worth about $31,000. Allworth Financial LP raised its holdings in shares of Coupang by 11,033.3% in 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 during the period. Finally, Signaturefd LLC lifted its stake in shares of Coupang by 34.7% in the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock valued at $70,000 after purchasing an additional 822 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Stock Up 0.2 %

Shares of Coupang stock opened at $23.36 on Friday. Coupang, Inc. has a 1-year low of $17.34 and a 1-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 current ratio of 1.13 and a quick ratio of 0.86. The business has a 50-day moving average of $23.40 and a 200-day moving average of $23.92.

Insider Activity at Coupang

In other news, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were 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 in the company, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of Coupang 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 transaction, the vice president now owns 136,806 shares of the company’s stock, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 259,234 shares of company stock valued at $6,069,015. Insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on CPNG shares. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Citigroup reduced their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Barclays set a $35.00 price target on Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Mizuho upped their target price on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. One 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.com, Coupang presently has an average rating of “Moderate Buy” and an average price target of $29.17.

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.