By otakuyassine3@gmail.com 
Prudential Financial Inc. trimmed its position in shares of Coupang, Inc. (NYSE:CPNG – Free Report) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,850 shares of the company’s stock after selling 2,721 shares during the quarter. Prudential Financial Inc.’s holdings in Coupang were worth $568,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings in Coupang by 2.2% during the third quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock worth $850,000 after buying an additional 747 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Coupang by 22.4% in the 3rd quarter. Stifel Financial Corp now owns 563,420 shares of the company’s stock worth $13,832,000 after acquiring an additional 103,167 shares during the last quarter. State Street Corp lifted its position 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 acquiring an additional 259,400 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in Coupang by 14.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,146 shares of the company’s stock valued at $372,000 after purchasing an additional 1,875 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Coupang during the 3rd quarter worth approximately $2,515,000. 83.72% of the stock is currently owned by institutional investors.
Coupang Stock Performance
NYSE CPNG opened at $19.77 on Wednesday. The company has a market capitalization of $35.69 billion, a PE ratio of 34.68, 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 52-week low of $18.16 and a 52-week high of $26.91. The company has a 50-day simple moving average of $23.27 and a 200 day simple moving average of $23.77.
Insider Transactions at Coupang
In other Coupang 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 transaction of $194,387.82. Following the completion of 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 ownership of the stock. 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 the business’s stock in a transaction that occurred 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 sale, the director now directly 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. 13.60% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on CPNG shares. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a report on Wednesday, February 26th. Citigroup lowered their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Mizuho lifted their price objective on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, Barclays set a $35.00 target price on shares of Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.17.
Read Our Latest Analysis on Coupang
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.
Further Reading
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