Coronation Fund Managers Ltd. Buys 2,566,581 Shares of Coupang, Inc. (NYSE:CPNG)

Coronation Fund Managers Ltd. lifted its stake in Coupang, Inc. (NYSE:CPNG) by 53.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,383,611 shares of the company’s stock after purchasing an additional 2,566,581 shares during the period. Coupang makes up 9.5% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its largest holding. Coronation Fund Managers Ltd.’s holdings in Coupang were worth $162,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of 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 during the period. Wellington Management Group LLP raised its holdings in Coupang by 43.2% during the third 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 during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Coupang by 762.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock worth $68,710,000 after purchasing an additional 2,474,175 shares in the last quarter. Ninety One UK Ltd acquired a new stake in Coupang in the fourth quarter valued at $46,388,000. Finally, Fred Alger Management LLC purchased a new position in shares of Coupang in the third quarter valued at $29,184,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction 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 of the company’s stock, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 13.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Citigroup decreased their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.56.

Coupang Trading Down 0.9 %

Coupang stock opened at $23.65 on Monday. The stock has a 50-day moving average price of $22.94 and a 200 day moving average price of $23.53. Coupang, Inc. has a 52 week low of $14.10 and a 52 week high of $26.91. The stock has a market cap of $42.54 billion, a PE ratio of 41.49, a P/E/G ratio of 43.21 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 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.