Norges Bank Takes $404.90 Million Position in Coupang, Inc. (NYSE:CPNG)

Norges Bank purchased a new position in Coupang, Inc. (NYSE:CPNG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,421,094 shares of the company’s stock, valued at approximately $404,896,000. Norges Bank owned 1.02% of Coupang at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of Coupang by 4.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after purchasing an additional 452 shares in the last quarter. Angeles Wealth Management LLC grew its stake in Coupang by 0.8% in the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock valued at $1,211,000 after buying an additional 459 shares in the last quarter. IFP Advisors Inc raised its holdings in Coupang by 3.8% during the 4th quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock valued at $280,000 after acquiring an additional 469 shares during the period. Ignite Planners LLC lifted its position in shares of Coupang by 2.5% during the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after acquiring an additional 483 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Coupang by 2.2% in the third quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock worth $850,000 after acquiring an additional 747 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction dated Monday, February 3rd. The stock was 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 in the company, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Sun sold 250,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 259,234 shares of company stock worth $6,069,015. Corporate insiders own 13.60% of the company’s stock.

Coupang Price Performance

CPNG stock opened at $22.32 on Friday. The firm has a 50 day simple moving average of $23.52 and a two-hundred day simple moving average of $23.95. The stock has a market cap of $40.29 billion, a PE ratio of 39.15, a P/E/G ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a one year low of $17.67 and a one year high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

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.