Coupang, Inc. (NYSE:CPNG) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. grew its stake in shares of Coupang, Inc. (NYSE:CPNG) by 1.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 484,315 shares of the company’s stock after purchasing an additional 7,294 shares during the period. Royal London Asset Management Ltd.’s holdings in Coupang were worth $10,645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CPNG. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coupang during the 4th quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new stake in shares of Coupang during the 3rd quarter valued at approximately $28,000. Berbice Capital Management LLC acquired a new stake in shares of Coupang during the 4th quarter valued at approximately $31,000. Allworth Financial LP lifted its position 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 valued at $45,000 after acquiring an additional 1,986 shares during the period. Finally, Signaturefd LLC lifted its position 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 acquiring an additional 822 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPNG has been the subject of a number of recent research reports. Citigroup dropped 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. Mizuho raised their price objective on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. Finally, Barclays set a $35.00 price objective on shares of Coupang and gave the stock 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 issued a buy rating to the company. According to data from MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Sun sold 250,000 shares of Coupang 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 transaction, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 259,234 shares of company stock valued at $6,069,015. Company insiders own 13.60% of the company’s stock.

Coupang Stock Up 0.2 %

CPNG stock opened at $23.36 on Friday. The stock has a market capitalization of $42.17 billion, a P/E ratio of 40.97, a PEG 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. Coupang, Inc. has a one year low of $17.34 and a one year high of $26.91. The company has a 50 day moving average price of $23.40 and a two-hundred day moving average price of $23.93.

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.