Platinum Investment Management Ltd. Makes New $794,000 Investment in Coupang, Inc. (NYSE:CPNG)

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

Several other large investors have also made changes to their positions in the business. Assenagon Asset Management S.A. raised 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 worth $24,182,000 after acquiring an additional 506,622 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Coupang by 23.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock worth $4,861,000 after purchasing an additional 41,384 shares in the last quarter. Elevate Capital Advisors LLC acquired a new stake in shares of Coupang during the fourth quarter worth about $2,618,000. Charles Schwab Investment Management Inc. lifted its position in shares of Coupang by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after purchasing an additional 138,416 shares in the last quarter. Finally, Plotkin Financial Advisors LLC acquired a new stake in Coupang in the third quarter valued at approximately $491,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CPNG shares. Deutsche Bank Aktiengesellschaft raised shares of 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. Barclays set a $35.00 price objective on shares of Coupang and gave the company an “overweight” rating in a research report on Thursday, February 27th. Citigroup reduced their target price on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Mizuho lifted their price target on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Coupang Stock Performance

Shares of NYSE CPNG opened at $22.87 on Wednesday. The firm has a market cap of $41.28 billion, a price-to-earnings ratio of 40.11, a P/E/G ratio of 52.20 and a beta of 1.10. The business’s 50-day simple moving average is $23.31 and its 200-day simple moving average is $23.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. Coupang, Inc. has a 52 week low of $17.34 and a 52 week high of $26.91.

Insider Buying and Selling

In related 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 value of $194,387.82. Following the completion of the sale, the vice president now owns 136,806 shares in the company, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 13.60% of the stock is owned by corporate insiders.

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.