Principal Financial Group Inc. Has $2.13 Million Position in Coupang, Inc. (NYSE:CPNG)

Principal Financial Group Inc. reduced its position in shares of Coupang, Inc. (NYSE:CPNG) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,945 shares of the company’s stock after selling 2,592 shares during the period. Principal Financial Group Inc.’s holdings in Coupang were worth $2,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in Coupang by 85.4% during the fourth 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 last quarter. Allspring Global Investments Holdings LLC boosted its position in Coupang by 23.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock valued at $4,861,000 after purchasing an additional 41,384 shares during the last quarter. Elevate Capital Advisors LLC acquired a new position in Coupang during the fourth quarter valued at approximately $2,618,000. Charles Schwab Investment Management Inc. boosted its position in Coupang by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock valued at $18,640,000 after purchasing an additional 138,416 shares during the last quarter. Finally, Plotkin Financial Advisors LLC acquired a new position in Coupang during the third quarter valued at approximately $491,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 136,806 shares in the company, valued at approximately $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 accessible through this link. 13.60% of the stock is owned by corporate insiders.

Coupang Price Performance

Shares of NYSE CPNG opened at $23.98 on Thursday. The firm has a market cap of $43.14 billion, a P/E ratio of 42.08, a price-to-earnings-growth ratio of 52.20 and a beta of 1.11. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 1-year low of $17.34 and a 1-year high of $26.91. The business’s 50 day moving average is $23.27 and its 200-day moving average is $23.91.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CPNG. Citigroup reduced 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 raised their price objective on Coupang from $25.00 to $27.00 and gave the company 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 report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective 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 assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.