Platinum Investment Management Ltd. Buys New Holdings in Coupang, Inc. (NYSE:CPNG)

Platinum Investment Management Ltd. acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 36,111 shares of the company’s stock, valued at approximately $794,000.

Several other hedge funds have also recently bought and sold shares of CPNG. Wingate Wealth Advisors Inc. bought a new position in Coupang in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new position in shares of Coupang during the third quarter worth $28,000. Berbice Capital Management LLC acquired a new position in Coupang in the fourth quarter valued at $31,000. Allworth Financial LP lifted its holdings in Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after buying an additional 1,986 shares during the period. Finally, Signaturefd LLC lifted its holdings in Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock valued at $70,000 after buying an additional 822 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on CPNG shares. Mizuho lifted their price target on shares of Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a research note on Wednesday, February 26th. Citigroup dropped their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays set a $35.00 price target on shares of Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the business’s 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 completion of the transaction, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 13.60% of the company’s stock.

Coupang Stock Performance

CPNG stock opened at $22.87 on Wednesday. The company has a market cap of $41.28 billion, a P/E ratio of 40.11, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a 1 year low of $17.34 and a 1 year high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The stock’s fifty day moving average price is $23.31 and its 200-day moving average price is $23.92.

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.