Mitsubishi UFJ Trust & Banking Corp Trims Stake in Coupang, Inc. (NYSE:CPNG)

Mitsubishi UFJ Trust & Banking Corp lessened its position in Coupang, Inc. (NYSE:CPNG) by 3.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,997,431 shares of the company’s stock after selling 68,512 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Coupang were worth $43,904,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its position in Coupang by 32.0% during the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after buying an additional 6,584,910 shares during the period. Wellington Management Group LLP increased its stake in shares of Coupang by 43.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock worth $211,868,000 after acquiring an additional 2,603,046 shares in the last quarter. Coronation Fund Managers Ltd. lifted its position in Coupang by 53.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock valued at $162,292,000 after acquiring an additional 2,566,581 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake 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 acquiring an additional 2,474,175 shares in the last quarter. Finally, Ninety One UK Ltd purchased a new stake in Coupang in the fourth quarter worth about $46,388,000. 83.72% of the stock is currently owned by institutional investors.

Coupang Price Performance

NYSE CPNG opened at $23.42 on Wednesday. Coupang, Inc. has a one year low of $17.55 and a one year high of $26.91. The stock has a 50-day moving average of $23.47 and a 200 day moving average of $23.95. 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 company has a market capitalization of $42.28 billion, a price-to-earnings ratio of 41.09, a PEG ratio of 52.20 and a beta of 1.10.

Analyst Ratings Changes

Several research firms have recently issued reports on CPNG. Barclays set a $35.00 target price on shares of Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a report on Wednesday, February 26th. Citigroup reduced their price target 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 upped their price target on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Insider Transactions at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm’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 transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the business’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 sale, the director now owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 259,234 shares of company stock worth $6,069,015 over the last three months. 13.60% of the stock is currently owned by company insiders.

Coupang Company 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.