Coupang, Inc. (NYSE:CPNG) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in Coupang, Inc. (NYSE:CPNG) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,100 shares of the company’s stock after acquiring an additional 41,384 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Coupang were worth $4,861,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its holdings in Coupang by 32.0% during the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after acquiring an additional 6,584,910 shares in the last quarter. State Street Corp grew its position in shares of Coupang by 1.9% in the third 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 last quarter. Wellington Management Group LLP increased its stake 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 worth $211,868,000 after purchasing an additional 2,603,046 shares in the last quarter. Coronation Fund Managers Ltd. raised its position 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 last quarter. Finally, Geode Capital Management LLC lifted its stake in Coupang by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company’s stock valued at $144,483,000 after buying an additional 29,164 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Price Performance

Coupang stock opened at $25.48 on Thursday. Coupang, Inc. has a 1 year low of $15.50 and a 1 year 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 firm has a 50 day moving average price of $23.07 and a 200 day moving average price of $23.75. The company has a market cap of $45.84 billion, a price-to-earnings ratio of 44.70, a PEG ratio of 45.90 and a beta of 1.11.

Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

CPNG has been the subject of several analyst reports. Barclays boosted their target price on shares of Coupang from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Citigroup lowered their price target on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.78.

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.