Royal London Asset Management Ltd. Boosts Stock Position in Coupang, Inc. (NYSE:CPNG)

Royal London Asset Management Ltd. boosted its holdings in Coupang, Inc. (NYSE:CPNG) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 484,315 shares of the company’s stock after buying an additional 7,294 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Coupang were worth $10,645,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Coupang in the third quarter valued at $28,000. Wingate Wealth Advisors Inc. purchased a new position in Coupang in the fourth quarter valued at $26,000. Berbice Capital Management LLC purchased a new position in Coupang in the fourth quarter valued at $31,000. Allworth Financial LP increased 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 last quarter. Finally, Signaturefd LLC increased 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 last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Shares of CPNG opened at $23.36 on Friday. Coupang, Inc. has a fifty-two week low of $17.34 and a fifty-two week high of $26.91. The company has a market capitalization of $42.17 billion, a price-to-earnings ratio of 40.97, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The firm has a 50-day simple moving average of $23.40 and a 200-day simple moving average of $23.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several research reports. Mizuho raised their price objective on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Barclays set a $35.00 price objective on Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Citigroup dropped their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Insider Transactions at Coupang

In related news, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the sale, the director now owns 1,719,421 shares in the company, valued at $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were 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 owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 259,234 shares of company stock worth $6,069,015. Company insiders own 13.60% of the company’s stock.

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.