Coupang, Inc. (NYSE:CPNG) Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its position in Coupang, Inc. (NYSE:CPNG) by 19.0% in the 4th quarter, HoldingsChannel reports. The firm owned 1,236,786 shares of the company’s stock after selling 290,836 shares during the period. American Century Companies Inc.’s holdings in Coupang were worth $27,185,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPNG. State Street Corp raised its position in shares of Coupang by 1.9% in the third 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 last quarter. Wellington Management Group LLP raised its holdings in Coupang by 43.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after acquiring an additional 2,603,046 shares during the last quarter. Coronation Fund Managers Ltd. lifted its stake in shares of Coupang by 53.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after purchasing an additional 2,566,581 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Coupang by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company’s stock worth $144,483,000 after purchasing an additional 29,164 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Coupang by 762.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock valued at $68,710,000 after purchasing an additional 2,474,175 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Stock Performance

NYSE:CPNG opened at $22.32 on Friday. Coupang, Inc. has a twelve month low of $17.67 and a twelve month high of $26.91. The firm has a market capitalization of $40.29 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 52.20 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $23.52 and its 200 day simple moving average is $23.95.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CPNG shares. Barclays set a $35.00 target price on Coupang and gave the stock an “overweight” rating in a research report on Thursday, February 27th. 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. Mizuho increased 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. Finally, Citigroup lowered their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.17.

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction 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. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the sale, the director now directly owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,234 shares of company stock worth $6,069,015 over the last quarter. 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.