Banco BTG Pactual S.A. Buys New Position in Coupang, Inc. (NYSE:CPNG)

Banco BTG Pactual S.A. purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,976 shares of the company’s stock, valued at approximately $401,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock valued at $24,182,000 after purchasing an additional 506,622 shares during the period. Allspring Global Investments Holdings LLC raised 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 buying an additional 41,384 shares during the period. Elevate Capital Advisors LLC acquired a new position in shares of Coupang in the fourth quarter worth about $2,618,000. Charles Schwab Investment Management Inc. increased its position in shares of Coupang by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after acquiring an additional 138,416 shares in the last quarter. Finally, Plotkin Financial Advisors LLC acquired a new stake in shares of Coupang during the third quarter valued at approximately $491,000. 83.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CPNG shares. Barclays set a $35.00 target price on Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. Mizuho increased their price objective on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Citigroup lowered their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Coupang presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm’s 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,234 shares of company stock valued at $6,069,015 in the last three months. Company insiders own 13.60% of the company’s stock.

Coupang Trading Down 0.7 %

Shares of NYSE:CPNG opened at $23.42 on Wednesday. Coupang, Inc. has a 52-week low of $17.55 and a 52-week high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The company has a market cap of $42.28 billion, a P/E ratio of 41.09, a P/E/G ratio of 52.20 and a beta of 1.10. The stock’s 50-day moving average is $23.47 and its 200-day moving average is $23.95.

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.