32,634 Shares in Coupang, Inc. (NYSE:CPNG) Purchased by Westpac Banking Corp

Westpac Banking Corp acquired a new stake in Coupang, Inc. (NYSE:CPNG) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 32,634 shares of the company’s stock, valued at approximately $717,000.

Several other hedge funds have also recently modified their holdings of CPNG. Norges Bank purchased a new stake in shares of Coupang during the fourth quarter valued at approximately $404,896,000. State Street Corp grew its stake in Coupang by 1.9% in the 3rd quarter. State Street Corp now owns 14,125,599 shares of the company’s stock valued at $346,783,000 after purchasing an additional 259,400 shares during the period. Wellington Management Group LLP increased its position in shares of Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after purchasing an additional 2,603,046 shares during the last quarter. Coronation Fund Managers Ltd. raised its stake in shares of Coupang by 53.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after purchasing an additional 2,566,581 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Coupang by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 6,126,268 shares of the company’s stock worth $134,655,000 after buying an additional 241,025 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other news, Director Benjamin Sun sold 250,000 shares of the business’s 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 directly owns 1,719,421 shares in the company, valued at $40,286,034.03. The trade was a 12.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the completion of the transaction, the vice president now directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

Coupang Price Performance

Shares of NYSE CPNG opened at $20.05 on Friday. The stock has a fifty day moving average of $23.46 and a 200-day moving average of $23.87. The stock has a market cap of $36.19 billion, a PE ratio of 35.17, 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 quick ratio of 0.86 and a current ratio of 1.13. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $26.91.

Analyst Upgrades and Downgrades

Several analysts have commented on CPNG shares. Mizuho lifted their price objective on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Barclays set a $35.00 price objective on Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. Citigroup decreased their target price on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a research report on Wednesday, February 26th. One research 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 stock has an average rating of “Moderate Buy” and an average price target of $29.17.

Coupang 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.