Westpac Banking Corp Purchases Shares of 32,634 Coupang, Inc. (NYSE:CPNG)

Westpac Banking Corp purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,634 shares of the company’s stock, valued at approximately $717,000.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in Coupang by 4.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock valued at $253,000 after purchasing an additional 452 shares during the period. Angeles Wealth Management LLC increased its position in shares of Coupang by 0.8% during the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock worth $1,211,000 after buying an additional 459 shares during the period. IFP Advisors Inc raised its stake in Coupang by 3.8% during the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after buying an additional 469 shares during the last quarter. Ignite Planners LLC lifted its holdings in Coupang by 2.5% in the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock valued at $452,000 after buying an additional 483 shares during the period. Finally, National Bank of Canada FI lifted its holdings in Coupang by 8.6% in the fourth quarter. National Bank of Canada FI now owns 6,944 shares of the company’s stock valued at $153,000 after buying an additional 548 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Mizuho increased their price target on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Citigroup lowered 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. Barclays set a $35.00 price target on Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Insiders Place Their Bets

In other Coupang news, 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 transaction of $5,857,500.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the completion of the transaction, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company’s stock.

Coupang Price Performance

Shares of CPNG opened at $20.05 on Friday. The business’s fifty day moving average is $23.46 and its 200 day moving average is $23.87. Coupang, Inc. has a 12-month low of $18.16 and a 12-month high of $26.91. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock has a market cap of $36.19 billion, a P/E ratio of 35.17, a P/E/G ratio of 52.20 and a beta of 1.09.

About Coupang

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.