Bamco Inc. NY Sells 1,036,414 Shares of Coupang, Inc. (NYSE:CPNG)

Bamco Inc. NY trimmed its stake in shares of Coupang, Inc. (NYSE:CPNG) by 15.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,757,166 shares of the company’s stock after selling 1,036,414 shares during the quarter. Bamco Inc. NY owned approximately 0.32% of Coupang worth $126,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CPNG. Norges Bank acquired a new stake in Coupang during the 4th quarter valued at approximately $404,896,000. Price T Rowe Associates Inc. MD increased its position in shares of Coupang by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock worth $1,663,594,000 after buying an additional 17,123,637 shares during the period. Coronation Fund Managers Ltd. increased its position in shares of 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. FMR LLC raised its stake in Coupang by 9.1% during the fourth quarter. FMR LLC now owns 29,619,581 shares of the company’s stock worth $651,038,000 after buying an additional 2,465,973 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new position in Coupang in the fourth quarter valued at $46,388,000. 83.72% of the stock is currently owned by institutional investors.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 9,347 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the sale, the vice president now owns 177,106 shares in the company, valued at approximately $4,223,978.10. This represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 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 trade represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,806 shares of company stock valued at $6,274,814 over the last three months. Corporate insiders own 13.60% of the company’s stock.

Coupang Stock Performance

Shares of CPNG stock opened at $24.11 on Friday. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $26.91. The firm has a market capitalization of $43.53 billion, a PE ratio of 42.30, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. The firm has a fifty day simple moving average of $22.48 and a two-hundred day simple moving average of $23.42. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of recent analyst reports. Barclays set a $35.00 price target on Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded 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. Citigroup cut their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Mizuho upgraded shares of Coupang to a “hold” rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.06.

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.