Massachusetts Financial Services Co. MA Takes Position in Coupang, Inc. (NYSE:CPNG)

Massachusetts Financial Services Co. MA purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,618,750 shares of the company’s stock, valued at approximately $35,580,000. Massachusetts Financial Services Co. MA owned about 0.09% of Coupang at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Coupang in the fourth quarter valued at $404,896,000. State Street Corp raised its holdings in Coupang by 1.9% in the 3rd quarter. State Street Corp now owns 14,125,599 shares of the company’s stock valued at $346,783,000 after buying an additional 259,400 shares during the period. Wellington Management Group LLP lifted its position in Coupang by 43.2% in the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after buying an additional 2,603,046 shares during the last quarter. Coronation Fund Managers Ltd. boosted its stake in Coupang by 53.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after buying an additional 2,566,581 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Coupang by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 6,126,268 shares of the company’s stock valued at $134,655,000 after acquiring an additional 241,025 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Down 6.6 %

CPNG stock opened at $20.05 on Friday. The company’s 50 day moving average price is $23.46 and its 200 day moving average price is $23.87. The firm has a market capitalization of $36.19 billion, a price-to-earnings ratio of 35.17, a PEG ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Analyst Ratings Changes

Several analysts recently weighed in on CPNG shares. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price for the company in a report on Wednesday, February 26th. Barclays set a $35.00 price objective on Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. Mizuho lifted their target price on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, Citigroup reduced their price target 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 investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Insiders Place Their Bets

In other news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the transaction, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. 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.