350,000 Shares in Coupang, Inc. (NYSE:CPNG) Acquired by Ardmore Road Asset Management LP

Ardmore Road Asset Management LP bought a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 350,000 shares of the company’s stock, valued at approximately $7,693,000.

Several other large investors have also recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new position in Coupang in the third quarter valued at about $250,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Coupang by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock valued at $18,640,000 after buying an additional 138,416 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Coupang during the 3rd quarter worth approximately $490,000. Bank of Montreal Can lifted its position in Coupang by 2,058.4% during the third quarter. Bank of Montreal Can now owns 245,109 shares of the company’s stock valued at $6,081,000 after acquiring an additional 233,753 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Coupang by 8.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,757 shares of the company’s stock valued at $30,632,000 after acquiring an additional 92,463 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Insider Activity

In related 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the 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 sale, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,234 shares of company stock valued at $6,069,015 in the last ninety days. Insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

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

Coupang Price Performance

Shares of NYSE:CPNG opened at $22.20 on Wednesday. Coupang, Inc. has a twelve month low of $17.67 and a twelve month high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company has a market cap of $40.07 billion, a PE ratio of 38.94, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The company’s 50 day moving average is $23.51 and its 200 day moving average is $23.92.

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.